first_imgObsidian had the most sales on Brisbane’s north side.He said there had been a definite reduction in investor stock and he tipped the market to continue the same level of sales and prices for the rest of the year.There are currently 60 apartment developments being marketed in inner Brisbane.Buyers preferred two-bedroom apartments, which accounted for 48 per cent of the sales.There were still 2044 off-the-plan apartments available for sale within the inner Brisbane area, which Mr Walker said would take about 27 months to absorb.He said the number of projects being put off by developers continued to increase and that new development application levels had also dropped.Of the sales during the December quarter 24 were in the Brisbane CBD with the average sale price at more than $1.12 million.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus21 hours ago Mary Lane in the Brisbane CBD enjoyed sales success in the December quarter.Unit sales numbers are up, with new figures revealing 228 unconditional sales in the last quarter of 2017 worth about $160 million.Sales levels had remained fairly steady according to Lachlan Walker of Place Advisory despite “challenging’’ market conditions.His latest unit report found sales numbers increased by 3.6 per cent (eight sales) between the September and December quarters, but were still lower than the same time last year.The weighted average sale price for a unit at the end of the year was $700,110 — almost 26 per cent higher than the previous year.Mr Walker said this was most likely as a result of more owner-occupier stock and better quality product being on offer. Park Central chalked up 17 sales in the December quarter.Mary Lane chalked up the highest average sale price of $1.35 million, while 443 Queen recorded the most sales with 16.North of the river was most popular with buyers, with 133 unconditional new unit sales for an average price of $667,105.The majority of sales were in the Obsidian development with 52 unconditional sales.Mr Walker said the north side of the river was always a strong performer in terms of sales numbers. He said it was more because of the availability of sites and zoning.South of the river there were 71 unconditional sales during the December quarter with an average sale price $619,366.Park Central One and Lincoln on the Park were the best performers with both chalking up 17 sales each.center_img Lincoln on the Park was also a strong performer. Picture: realestate.com.au“I think Brisbane has stabilised,’’ Mr Walker said.“I don’t think any suburbs will change their sales volumes for the next 12 months.“Relatively in the big scheme of things we have definitely had a soft landing.“It has not been the price fall-off that everyone suggested potentially would occur.“I think the market does self-regulate a bit. ‘’last_img

Published by admin

Leave a Reply

Your email address will not be published. Required fields are marked *