Brisbane’s median apartment values reached a 2020 high of $390,000, Now it’s $419,143, up from just over $415,000 last month
Brisbane apartment values are continuing to demonstrate the steady growth profile they have shown in the year to date, according to property data firm CoreLogic.
Values rose 0.8 per cent over July, double the growth of apartments in Melbourne.
It puts Brisbane’s rolling quarterly apartment gain at 2.7 per cent, following jumps of 0.7 per cent in June and 1.2 per cent across May.
Brisbane’s median apartment value reached a 2020 high of $390,000. Now it’s $419,143, up from just over $415,000 last month.
Queensland as a whole has continued to see gross yields over 5 per cent for apartments, much more forgiving when compared to the significant yield compression seen in Sydney, where gross yields have fallen to 2.5%, and in Melbourne at 2.8%. Every other capital city is recording gross yields at 4% or higher.
The gains in the apartment market come as the booming housing market lost a little bit of steam over July.
CoreLogic’s research director, Tim Lawless, suggests one of the reasons house prices are starting to lose a bit of steam is that they are becoming unaffordable for many.
“With dwelling values rising more in a month than incomes are rising in a year, housing is moving out of reach for many members of the community,” Lawless says.
Apartments on offer in and around Brisbane:
Bide
Address: 21 Longland Street, Newstead QLD 4006
Three-bedroom apartments from $950,000
Bide 21 Longland Street, Newstead QLD 4006
Bide is a new residential offering nestled in the heart of Newstead, offering 89 apartments.
Developed by Dibcorp Properties, the functional apartments are designed as an urban seclusion hidden away in Brisbane
Situated just three kilometres from the CBD, Newstead has established itself as one of Brisbane’s most sought-after suburbs.
The dynamic suburb offers residents every amenity, with lifestyle, commercial and entertainment hubs within walking distance, as well as its own zen garden, BBQ and a residents lounge.
Pearl, Main Beach
Address: 3550-3552 Main Beach Parade, Main Beach QLD 4217
Two-bedroom apartments starting from $749,000
Pearl Main Beach 3550-3552 Main Beach Parade, Main Beach QLD 4217
he veteran Gold Coast developer Raptis has recently launched sales at its latest Main Beach apartment development, the $160 million Pearl, Main Beach.
The 30-level tower at 3550-3552 Main Beach Parade will have 80 apartments, including a luxury two-level penthouse.
Pearl, Main Beach, is the first foray in to the Main Beach market by Raptis, headed by founder Jim Raptis who started the company in Sydney back in the mid 1960s.
Chevron One
Address: 36-44 Stanhill Drive, Surfers Paradise QLD 4217
Two-bedroom apartments from $858,000
Chevron One
36-44 Stanhill Drive, Surfers Paradise QLD 4217
Comprising 236 one, two and three-bedroom apartments, Bensons Property Group’s Chevron One stands as an iconic landmark in Surfers Paradise.
Rising 40 floors, the stylish high-rise features an organic sculptural form and rotating geometry that maximises views.
With close to 2000sqm of resort-style amenities, residents will enjoy Chevron’s intuitive design and numerous facilities.
Designed by Marchese Partners, these amenities include a residents’ lounge, floating cinema, dining facilities and sculpted garden.
Article Source: www.urban.com.au
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