Monday, 31st Jul 2017
Over the past 20 years, the median price of an apartment within Brisbane’s inner city has grown by an average of 5% per annum. Over this 20 year period we have also seen the availability of prime land along Brisbane’s inner city waterfront virtually dry up.
Demand for apartments within inner Brisbane is focused on new developments offering a point of difference and location which is supported by infrastructure. These developments are enjoying strong takeup and low vacancy rates at the expense of older, established developments.
WEST END RESIDENTIAL MARKET PERFORMANCE
Despite strong lifts in West End’s median house price over the past five years, its median unit price remains affordable. For the year ended March 2017 the suburb’s median house price sat at $1.1 million which is at a 110% premium to its median unit price of $522,500.
Source: Resolution Research Report – “Market Comment – West End, June 2017”