Reply: 2
From: Colin Mills
Up to 80-90% of the apartment towers are being sold to Syd/melb investors. Check out all the ads in the SMH and Age by the developers. Perhaps Brisbane buyers are too slick??? I live in Brisbane and certainly would not buy. So who, after they are all built, will actually be living there??? Obviously not the purchasers unless they all plan to move. Where are all the tenants at $400+ per week going to come from?
Disaster looms. Avoid it like the plague until the distressed re-sales start appearing in 2 or 3 years time. If you wish to invest in Brisbane try a house in Wilston/Windsor preferably with (somewhat limited) city views or glimpses for under $300k. Amazing VALUE, arguably the best value in Brisbane.