There were 1,400 apartment sales across inner Brisbane over the past quarter. This is down by 800 or 36% since the market peak this time last year.
A raft of Higher interest rates, rising costs and lower consumer confidence is having an impact on sales. This is especially the case when it comes to investor interest.
On average, historically, an average of approximately two-thirds of inner-Brisbane’s new apartments sell to investors each year.
Higher prices are somewhat to blame, with most new apartments selling for much more than older resale stock. As a result, apartment investors will be looking at resale apartments rather than buying off-plan or new. We expect this trend to continue.