My theory is that if a building has too many apartments for sale at any one time, this negatively impacts the value of the apartments. First, it shows high turnover (which could mean dissatisfaction. Second, it drives the price down -- as purchasers can play each seller off. On the other hand, scarcity drives values higher.I have tried to work out how many apartments are for sale in certain buildings as at today, looking at various sources, and this what I conclude. I did not count anything reported to be under contract. The details are probably inaccurate, but the overall picture is probably about right:Brisbane City Admiralty Towers One - 0Admiralty Quays - 1 Admiralty Towers Two - 2Quay West - 2Metro 21 - 4 River Place - 5 Felix - 6 Casino Towers - 8Skyline - at least 26 (plus what the developer has not yet sold)Festival Towers - 32Charlotte Towers - at least 40 (plus what the developer has not yet sold)Aurora - 41M on Mary - more than 100South Bank area Saville South Bank - 0Arbour on Grey - 2 A Niche Realty Newsletter reports the following regarding number of sales and median sales price over a six month period (1 May 2007 to 30 October 2007):
Aurora: 29 sales, medium sales price of $470,000Casino Towers: 26 sales, medium sales price of $477,500Felix: 13 sales, medium sales price of $440,000Riverplace: 7 sales, medium sales price of $600,000Admiralty Towers 2: 7 sales, medium sales price of $700,000212 Margaret: 7 sales, medium sales price of $322,000Admiralty Towers: 4 sales, medium sales price of $755,000Quay West: 4 sales, medium sales price of $445,000 By comparison, in the whole of Indooroopilly, there are 12 apartments/units currently listed for sale, of varying age and quality.
"Market Forces"
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