Post a Comment On: Brisbane Apartment

I received a Ray White CBD Residential Market Update this week. Some extracts:"we also have 37% more properties for sale so buyers have more choice""The inner city unit market continues to be popular...""While there is an increase in the number of listings, there is no evidence of an oversupply of units in the marketplace.""Projects that are going ahead are price targeted toward the lower end of the market.""there has been an abundance of rental properties available so far this year in the Inner City causing the vacancy factor to over around 4%" (compared to Sydney and Melbourne at 1.2%)"Another factor is the rapid fall off of overseas students coming to Brisbane to study."Ray White also reports that 91% of the properties that it auctioned this year sold, with an average of 61 days to sell. This compares with private treaty sales being 50% sold within 80 days. Doesn't sound like auctions are a fast way to sell. And 80 days time on market for private treaty is very bad -- and half of the properties listed for private treaty don't sell!! Not a good market for sellers.