Unit oversupply forces Brisbane investors shift focus to house and land: HTW
One of the surprise performers over the past few months has been Brisbane’s fringe suburbs according to HTW’s February 2017 update.
The valuation firm says there is a continued shift towards house and land packages – particularly from investors scared off by the threat of a looming unit oversupply.
“While no-one is calling a boom for this once very sleepy sector, activity has been strong,” the firm says.
“Our team are also noting gains in the western corridor towards the Ipswich region as facilities and infrastructure continue to attract business and residents.
“Some of the bigger estates in this patch are seeing 30 to 40 land sales per month – and most developers would call this a roaring success.”
HTW says this is in contrast to the prestige property which operates outside the constraints impacting other price points due to many high-end buyers being cashed up and immune from interest rate variations.
“When the right buyer meets the perfect property, record prices can result.
“We will probably see a few more of these benchmark sales occur in 2017.”
A three bedroom house at Stafford Heights (above) was recently sold for $553,000.
Similarly a four bedroom house at 5 Boambillee Street, Mount Gravatt East (below) was sold for $775,000.
