A new report from economic forecaster BIS Oxford Economics shows 8300 apartments will be completed in 2017-18, up from the 5,700 apartments that came on line last year. Another 5000 apartments are in the pipeline for 2019.
Due to these numbers, vacancy rates in the inner-Brisbane market have increased, sitting at four percent in the December quarter for 2017.
The flow-on effects of the large-scale development and high-rise projects flooding the market have ensured downwards pressure on rents and prices for Brisbane residents.
Brisbane’s record levels of apartment completions, buoyed by an investor-heavy market, has been well publicised, and BIS has signalled that the inner Brisbane apartment market may level out.
Brisbane’s CBD and Spring Hill area, West End, Toowong, Woolloongabba, Hamilton and Brisbane’s inner east and north are the key areas with high saturation of large scale and high rise projects.
Suburbs West End, CBD…
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