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Posts Tagged ‘brisbane’

New Apartments Fortitude Valley and Suburb Profile

Posted by Mark Mendel in Brisbane Suburb Profiles on 11 9th, 2011

Fortitude Valley is one of Brisbane’s highest growth suburbs due to its proximity and link between the Brisbane CBD, Brisbane’s popular northern suburbs and the affluent riverfront suburbs of Teneriffe, Newstead and New Farm.

Fortitude Valley is renowned to be the premier entertainment and lifestyle precinct of Brisbane, and now developing into a key city fringe office precinct with a critical mass of white collar employees.

Our attraction to the Fortitude Valley has never been stronger. The area is now experiencing a boom in development of new apartments and commercial offices unlike anything before. Billions of dollars are being poured into urban renewal and new highrise projects across the Bowen Hills, Fortitude Valley and Newstead areas.

Many consider buying a new apartment in Fortitude Valley. Below are 5 reasons why Fortitude Valley is becoming so popular for property investors looking to buy off the plan apartments in Fortitude Valley.

Why is this happening? A few reasons below could explain why:

1) Trend: We all know that the Valley is now a ‘trendy area’ to be in. Officially, it is Brisbane’s designated ‘entertainment district’, and Australia’s first entertainment district protected under legislation to remain this way.

2) Locality: Not only is the Brisbane CBD waterlocked by the Brisbane River, but it is one of the smallest in Australia in terms of land area. This has lead people to see the Valley as an opportunity to extend the CBD, a plan which is supported by the Brisbane City Council as a way to energise the area during the day. Already, we have seen numerous companies relocate their offices to the Valley/Newstead area. Leighton, Aecom, Arup, Energex, Watpac, Cardno, RPS, Fujitsu and many Brisbane City Council departments have recently moved into the Valley in recent years.

3) Changing Demographics: The days of owning a large house in the suburbs are numbered, as younger demographics are opting to surround themselves with nearby amenities. This as well as investment from Asian buyers are contributing to strong demand for one and two bedroom apartments, particularly in the Valley where developers have recorded strong sales.

4) Undeveloped: Given the close proximity to the CBD, the Valley could be said to be largely undeveloped. Unlike neighbouring suburbs such as Kangaroo Point and Spring Hill, apartment development has been slow to take off – until now.

5) Transport: The Valley is home to above-average public transport in Brisbane. The area has access to rail, city cat and bus services, with the high frequency City Glider being a recent addition to this. The Valley’s grid road system will also make it easier in the future to provide Light Rail transport through the area

If you are looking to buy new apartments in Fortitude Valley then check out the qualified new apartment listings on Find Investment Property.

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Brisbane: Vender Discounting

Posted by Mark Mendel in Brisbane Property News on 10 31st, 2011

Brisbane has won the race to the bottom with Adelaide to become the cheapest mainland city to buy a house, with median price plummeting 6.7 percent in 12 months for the year ended September 2011.

It seems discounting is rife in Brisbane; so just what does it take to sell a house in this market? In other words what is the amount the seller has to discount with ‘time on the market’ and on this score the findings that Brisbane houses need to drop 9% are an indicator of the price collapse.

While the national median home price has now fallen for five successive quarters, making an even worse stretch than during the global financial crisis in 2008, Brisbane has gone from boom to gloom, reversing years of steep growth in its property market to lead the downturn with a 2.7 percent decline in the quarter.

Brisbane achieved the tile of Australia’s cheapest mainland capital with a median house price if $429,339 compared with Adelaide’s 4445,585.

Demand for rentals this year increased due to the January floods leading to a rise in yields. Yields for apartments are 5.2 percent, up 10 percent for the year, while rental yields for houses are 4.9 percent. Many buyers were clearly spooked b the January flood and the scrapping of Queensland’s stamp duty concessions for owner-occupiers. Investors will no doubt be alert to a price recovery thought 2012 as the Queensland economy improves, backed by a return to full production of damaged banana and cane fields in North Queensland and increased activity in major resource projects.

Population growth slowing, but still above average.

Queensland’s population growth rates lower in as international migration and interstate migration eased.  However, at 2.4% in the year to December 2010 it remained above the longer term average of 2.3%.

Despite slowing, net international migration remained very strong at 53,265 people.  Natural growth also remained very strong at almost 40,000 people, again well above average.

While expectations are for immigration numbers to continue to slow, the population growth may well be buoyed by increasing interstate migrants as the mining sector takes off again. However, this is more likely from 2012, onwards.

The number of first home buyers (FHB) continued to decline, although at faster rate than expected. This group of buyers to remain relatively weak over 2H, 2011 given the changes to stamp duty and that as a contributing impetus earlier this year.  However, the rate of decline should slow.

As mentioned the existing owner occupiers were the biggest surprise in terms of decline. Full time jobs in Queensland rose by almost 35,000.  Volatile consumer confidence may have resulted in major decisions being put off.

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New Dawn for Brisbane Property Market

Posted by Mark Mendel in Brisbane Property News on 10 1st, 2011

Brisbane’s property market, which is bearing the scars from the end of the first home buyer’s grant boost last year, marked falls in interstate and overseas migration and the summer floods, is among the weakest of all Australian state capitals.

While the headlines on property prices invariable fall on Melbourne or Sydney, there is a unique aspect to Queensland in that its economy and population are so spread out. Queensland is the most regionalized economy in Australia with a number of substantial regional cities: Bundaberg, Rockhampton, Mackay, Townsville, Cairns etc.

Brisbane and its surrounding areas are adjusting. January may mark a turnaround in Brisbane’s flagging property market, but there is no sign of conditions improving before then, according to leading economic forecaster BIS Shrapnel.

Their forecast reflects a sluggish start to the spring property season, as households are wary of taking on more debt and potential home buyers hold out for interest rate cuts.

Brisbane may not have major stock shortages and may still be suffering from the natural disasters earlier in the year but will benefit in due course as the state economy gathers pace as a result of the resources boom in that state. The level of building approvals in Queensland this year for new houses or refurbishments was the same as the level in the last six months of last year, indicating a stagnant market. It is expected that it will take another good 12 months of low construction for a deficiency in new dwellings to build up and for vacancy rates to drop and rental pressure to build before it starts having more significant affects on the market in 2012/13.

In the June quarter, according to the REIA, Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra and Hobart all failed to deliver any growth in house rentals  Apartment rents fell in four of the eight capital cities and flat-lined in two others.

On the Gold Coast, which has a surplus of everything from warehouses and offices to apartments and house-and-land packages, prices have shown negligible growth for the past four to five years. In some suburbs, prices have fallen. Many who bought apartments off the plan five years ago find they are today worth considerably less than they paid. In Surfers Paradise, the median price is less today than it was in 2006. That will not change any time soon.

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The Milton Apartments – Brisbane

Posted by Mark Mendel in Brisbane New Apartments on 09 12th, 2011

The Milton will offer a mix of Retail, Commercial and Residential Apartments over 30 storeys.

The building will comprise of 298 Residential Apartments in one and two bedroom configurations from Level 3 to 30 as well as commercial office space on level two and ground floor retail tenancies and a promenade which will be integrated with the Milton Train Station.

The Milton will offer contemporary 1 and 2 bedroom apartments reflective of the cosmopolitan attitudes driving urban living. These new apartments will offer either private balconies or courtyards and a choice of design and layout, each unique and complementary. The generous open floor plans make any of the dwellings a great location choice for investing or living in.

The Milton has been designed by award winning architectural firm DBI Design, with careful consideration to the surrounding environment. Each apartment will have a sense of space with floor to ceiling glazing maximising natural light and capturing city, river or suburban views.

The Milton apartments will feature inclusions such as air-conditioning, stylish kitchens with European appliances and reconstituted stone benchtops, interior designed bathrooms and covered balconies flowing effortlessly from the living areas.

Residents will also enjoy exclusive access to an array of onsite facilities including a leisure deck, pool, sauna, gym, residents room, a selection of barbeque areas and a roof top observation deck. The residential facilities are to be located on Level 6, capturing the amazing views while entertaining friends by the pool.

For those thinking about investing in a new Brisbane apartment, considering The Milton is certainly worthwhile. This development is located right next to a train station and is only moments away from the Brisbane CBD. If you wish to find out more detailed information about whats available at The Milton, including viewing floor plans, finishes schedules, rental assessments, depreciation schedules and pricing, please visit Find Investment Property to find out more about The Milton Apartments.

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QLD Brisbane Floods January 2011

Posted by Mark Mendel in Brisbane Property News on 01 19th, 2011

Over the last couple of weeks, Queensland and in particular Brisbane and Ipswich, have just been through some of the most devastating floods ever. Watching it unfold as news teams broadcast images of cars being washed down streets, homes being ripped apart and families being isolated in their homes and stranded on their roof as flood waters rose was something that I hope I never have to experience. What was more amazing than watching the floods impact on the lives of people through the affected areas was the reaction of people within Queensland and the rest of Australia.

As I write this blog, Australians have donated more than $90 million in the last few days and tens of thousands of volunteers have descended on Brisbane to help with the clean up. Those whose homes have being ruined have been supported by family, friends and in many cases strangers that are helping out their fellow Australian.  It really has been a tremendous effort and I wish everyone a fast and efficient recovery.

For those that would like to help, please forward a donation to a registered organisation. The best donation point is on the QLD government website: http://www.qld.gov.au/floods/donate.html

This flood will not only affect the lives of those living in QLD but also all around Australia and the world. Queensland is a large producer of fruits and vegetables and now these farmers are without crops and left with damaged soil that will certainly also affect future supply. Coal prices have sky rocketed as the supply of coal from Queensland, one of the world’s largest suppliers was halted as the flood waters rose.

Once again we encourage all our readers to please assist by donating to the QLD Flood Appeal. Every dollar does help. This clean up will take 6 to 12 months to clean up but many Queenslanders will be affected for the rest of the lives. Let’s do our part and help the fellow Aussie in need. To Donate please go to the official Queensland Government website: http://www.qld.gov.au/floods/donate.html

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Brisbane Property Outlook

Posted by Mark Mendel in Brisbane Property News on 11 23rd, 2010

Where is the Brisbane property market heading in 2011? It is a question that many seem to be asking as the Brisbane market through 2010 continued to underperform. The Brisbane property market is doing it very tough at the moment with many interested in the market but not many making a commitment to purchase. Interest on new projects has been strong in the inner city regions and rightfully so as the market will start to dominate towards the end of next year however in the mean time everyone seems to be sitting on their hands.

The interstate interest in the Brisbane property outlook  is strong and says allot about the future outlook, but until the locals start buying, the market will continue to move sideways.

The Brisbane property outlook still has all the right fundamentals to make it an attractive location to invest in. There is continually strong population growth, as well as a state economy that continues to outperform many of the other states. There has been large amounts of infrastructure spend and more to come over the following years all throughout Brisbane and Queensland and population growth is above the national average. As the mining boom continues, Brisbane and the whole of Queensland are well placed to take advantage of overseas investment. They are also well located within Australia to become a major trading hub for the Asian markets.

Average capital growth over the last 10 years has been well above 10% however in recent times growth has been slow with only 0.4% capital growth in the latest quarter and 2.1% over the last 12 months. This is the third slowest capital growth over the last year only ahead of Hobart and Perth. Although Perth and Hobart capital growth stats are unlikely to change any time soon, we are predicting large movement in Brisbane property prices over the next 12 – 36 months. Those thinking about investing in Brisbane property market, whether it is a Brisbane off the plan apartment or a Queensland house and land package in a major regional growth centre, property investors should be buying in 2011 and not waiting for the mad rush in 2012 when prices have already started to increase.

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The Capitol Apartments – South Brisbane

Posted by Mark Mendel in Brisbane New Apartments on 09 13th, 2010

The Capitol Apartments are located on the fringe of the Brisbane CBD being perfectly located for investors and owner occupiers. This development has had a huge amount of interest during the initial registration period with the apartments expected to sell incredibly quickly when launched towards the end of September 2010.

The Capitol Apartments consist of 77 one and two bedroom apartments over 10 levels. The development boasts a bistro-bar and restaurant on the ground level as well as a gym, pool and steam room.

As an investor this new apartment development in South Brisbane certainly does tick all the boxes. Recently South Brisbane has been experiencing 10-15% rental premiums due to the underlying demand for urban living.

There are various new apartments available at Capitol including, one bedroom, two bedroom one bathroom, two bedroom two bathroom and two bedroom two bathroom dual key apartments. These luxury appointed apartments will be very attractive to home buyers and investors looking to “capitolise” on the strong rental market in the South Brisbane area.

This new apartment project is located in Peel Street in South Brisbane. It is an opportunity to purchase off the plan only 500m from the Brisbane CBD. Some apartments will have fantastic uninterrupted city views while the development site is close to public transport.

It has been developed by Forrester Properties who have over 30 years of experience in the South East Queensland market.

To register your interest of find out more about these new apartments, visit Find Investment Property.

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Brisbane residents embrace apartment living

Posted by Mark Mendel in Brisbane Property News on 08 19th, 2010

Michael Matusik has declared recently that more and more Brisbane residents are taking up the opportunity to live in apartments rather than homes. He states there has been an increase of 25% in inner city owner in the last 5 years. Most recently noting that over the last 12 months 50% of all apartment buyers in the inner city of Brisbane have been owner occupiers and not property investors.

The Brisbane property market has been very slow of late or so it seems as Tim Lawless from RP Data indicates that the apartment market is still performing very well compared to the housing market. Lawless claimed that the apartment market climbed 7.9% over the last 12 months which is fantastic growth in what seems a very slow market.

Lawless claims Brisbane to be the second most affordable city for apartments and expects further growth to come.

While owner-occupiers are dominating the market at the moment, Mr Matusik said as the trend moves towards increasing yields and smaller apartments, more investors will re-enter the market in the next couple of years.

“We foresee this will result in an undersupply in the market for spacious new apartments over the coming years,” he said.

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Buying a new apartment in Brisbane

Posted by Mark Mendel in Brisbane Property News on 08 19th, 2010

Developers and investors are turning the heads to Brisbane CBD and middle ring suburbs when it comes to looking for a new apartment in Brisbane. For more details on what new apartments are available in Brisbane, please visit Find Investment Property.

Brisbane new apartments in 2010 and beyond
Brisbane’s new apartment market has provided stable returns for property investors in recent times due to a number of critical factors that property investors should be considering when they make the decision to buy investment property. Now the market looks to be turning even more.

Rents look set to continue to rise in Brisbane as a number of new projects that were meant to become available have now been binned – a somewhat rare occurrence which most likely will stir up activity and investor demand.

Like any real estate investment, locating and purchasing the right property in the right suburb requires careful consideration and research. Buyers should look for suburbs that have strong positive attributes. For example overall appeal, good public transport, good schools, shops, close to arterials and above all, invest in areas that are consistently showing a growth in population.

Brisbane’s population has also been increasing at one of the fastest rates of all the capital cities leading to an increase in the demand for housing.

So for more information and to see what new apartments in Brisbane are available, please visit Find Investment Property.

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About New Apartments Brisbane

Posted by Mark Mendel in About on 08 12th, 2010

Brisbane New Apartments blog is designed to cater for all those property buyers and property investors looking to purchase a new apartment in Brisbane and throughout Queensland (QLD).

From time to time we will be posting information about new apartment developments, off the plan projects, house and land packages and property news that property buyers want to know about. We will try to keep it as relevant as possible to the QLD and Brisbane property markets.

If you are aware of a new property development that you would like us to review, please contact us.
If you would like our opinion on a major news story relating to the QLD and Brisbane property market, please contact us and we will endevaour to research and write an article to help all our readers.

For those looking to buy off the plan apartments in Brisbane or QLD, you can visit Find Investment Property, which are the largest aggregator of new property in Australia.

Thanks for visiting our page!

Mark Mendel

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