History points to how much the Olympics is set to impact Brisbane's apartment market values
There's been a significant uptick in apartments in Brisbane, as agents brace themselves for a wave of investment when the borders open.
According to property data firm CoreLogic, values rose 1.4 per cent over August, nearly triple the growth of apartments in Melbourne (0.5%). The rolling quarterly gain of apartments in Brisbane is 6.7 per cent.
Brisbane's median apartment value reached a 2020 high of $390,000. Now it's $425,777.
The growth trend is expected to continue, backed in large part by billions of dollars in investment from both private and public sectors as part of the pipeline for the 2032 Olympics.
A similar growth pattern was seen in the long lead up to Expo 88, the biggest Bicentennial celebrations of the arrival of the First Fleet in Sydney Harbour. In the 11 year build up, the Brisbane LGA median house price grew by 278.8 per cent, with prices in South Bank and its surrounding suburbs seeing 335.3 per cent gains.
The $625 million fair attracted more than 15.7 million visitors to Brisbane, and put South East Queensland on the map as a world recognised tourist destination.
A similar trend unfolded when the city hosted the 2014 G20 Brisbane Summit with property prices surging 112 per cent in Brisbane and 116 per cent in South Bank in the decade before the event.
With Brisbane starting to see an uptick in listings as part of Spring selling season, unlike much of Australia, Urban took a look at some of the best Brisbane apartments for sale on Urban.com.au.
1. Trellis, South Brisbane
Aria Property Group are a decorated Queensland developer who have continued to improve sustainability across their South East Queensland residential apartment developments with their newest tower, Trellis.
Described as both the most sustainable and livable to date, all 110 of the two and three bedroom apartments in the 12 story building have been designed by Rothelowman.
Reminiscent of an urban retreat, Trellis reflects a new style of resort living with 1,119 sqm of recreational amenity across the Temple of Wellness on the ground floor and the Residents’ Rooftop Club on level 13.
Apartments in Trellis start from $739,000 for a two-bedroom, two-bathroom apartment. Three-bedroom apartments are priced from $1,084,000 to $1,224,000.
2. Bide, Newstead
Bide is the latest Newstead residential offering by Dibcorp Properties. It has been designed in collaboration with architects from Twohill & James, Lat27 and Wiltshire Stevens Architecture.
It presents a new way of inner-city-living, with a range of special inclusions and an urban green space exclusively for residents to relax, unwind and even work from home.
Bide comprises 89 spacious one, two and three-bedroom apartments just three kilometres from the CBD.
Two-bedroom apartments start from $635,000.
3. Silk Lane, Woolloongabba
Silk Lane will give residents the best seats in the house when the sporting arena is back in a post-lockdown world.
The building’s architectural façade, designed by Nettleton Tribe Architects, draws inspiration from the angular shapes of metal structure incorporated in the neighbouring Brisbane cricket ground, The Gabba. The appropriately named Skystand will look over the wicket for The Ashes, and the main hub of the 2032 Brisbane Olympic track and field events.
Developed by Sarazin, Silk Lane will home 306 one, two and three-bedroom apartments.
Prices start from $449,000.
4. Rivello, Hamilton
There's only a handful of apartments left at Rivello, the luxury apartment development by Brookfield Properties in Hamilton.
The 21-level building designed by Cottee Parker Architects has netted over 80 per cent of sales of the block of 150 apartments.
Brookfield Residential Properties’ Managing Director, Lee Butterworth, said buyers had responded well to Rivello.
“There is certainly significant demand for Brisbane property in the current market and buyers recognise Rivello represents a rare opportunity to purchase a new apartment in a building on the Brisbane River,” he said.
