Stay clear of Brisbane off-the-plan, HTW warns first home buyers
Brisbane’s first home buyers should be very wary of off-the-plan developments, according to HTW’s Month in Review: March 2017.
The valuation firm says an overabundance of stock make them a poor investment considering current market conditions.
“If you’re an entry-level investor looking to be part of Brissie, then you’re probably considering units and townhouses at the moment – but as we’ve been warning for some time now, be careful!” the report says.
“Off-the-plan investor stock that has limited appeal to owner occupiers is at oversupply and the potential for capital gain is limited.”
New units in large inner city developments be available at a more achievable price, but given current and proposed supply there is significant risk of a softening in values, the firm says.
“Also avoid units and townhouses that are selling at a premium price point throughout the Ipswich area.”
