My partner and I bought our first investment property last year in Taringa, it's a large townhouse in a small complex and we were suprised how little interest there was when we purchased. We've been looking for a new PPOR/investment property in the last few months and there is definitely a different feel to the market this time, although this seems to have dropped off as we get closer to christmas.
I agree with the above re units. South Brisbane and Newstead have something obscene like 2500-3000 apartments proposed or already approved for construction, surely something has to give there?
From what I'm hearing the appetite for this kind of product isnt waning though, every launch seems to have massive sales numbers on the opening weekends and they are selling out fast. One project that I am working on at the moment had $80m of sales on the first weekend and the split is something like 75+% investors vs owner occupiers. I think we will see some much cheaper rents in these complexes in the next few years as more and more of them are built. Great for bringing more people into the city and increasing density which I am all for, I don't think they are a great investment though.
I agree with the above re units. South Brisbane and Newstead have something obscene like 2500-3000 apartments proposed or already approved for construction, surely something has to give there?
From what I'm hearing the appetite for this kind of product isnt waning though, every launch seems to have massive sales numbers on the opening weekends and they are selling out fast. One project that I am working on at the moment had $80m of sales on the first weekend and the split is something like 75+% investors vs owner occupiers. I think we will see some much cheaper rents in these complexes in the next few years as more and more of them are built. Great for bringing more people into the city and increasing density which I am all for, I don't think they are a great investment though.