Supply of new prime Brisbane property tipped to fall 62%

The number of new apartments and townhomes being developed in Brisbane’s prime residential regions is set to fall by 62 per cent over the next 5 years.

The forecast by Knight Frank Research follows a strong second quarter of this year, in which top end Brisbane property easily outperformed Sydney and Melbourne.

Prime Brisbane regions, as identified by Knight Frank, include some of Brisbane’s most desirable suburbs close to the CBD, such as Alderley in the 4051 postcode. Alderley is the location of CDL Australia’s Brickworks Park development.

A report by Knight Frank said much of the new development within prime Brisbane regions had been weighted towards 2-bedroom apartments, followed by 1 and 3-bedroom configurations with the value of new apartments increasing by 41.7 per cent since 2015.

In terms of relative value, the report noted that a buyer could secure 114sqm of internal luxury floor space in Brisbane for around the same price as 51sqm in Sydney and 89sqm in Melbourne.

It found there had also been significant rental growth in Brisbane with more people opting to rent while looking for their next ideal home. This was exacerbated due to greater demand for Brisbane property and fact the Queensland capital is on the radar of returning expats attracted the city’s climate and relative value.

In other property news, Westpac economists have released an upbeat forecast which predicts Brisbane house prices will soar 20 per cent over the next two years, commencing from around mid-2021. Westpac said the Brisbane market would be more resilient than previously predicted.

With public transport options in close walking distance, easy access to some of Brisbane’s best schools and leafy tree-lined streets, it is clear why Alderley has been included in Knight Frank’s list of prime residential regions.

Brickworks Park offers buyers a once-in-a-lifetime opportunity to become part of a unique parkland community with an unparalleled level of amenity, just 5km north of the Brisbane CBD.

A new masterplanned community, Brickworks Park will feature community and private parklands, unique apartment designs, Queenslander inspired townhomes in one of Brisbane’s prime residential markets.

To find out more about homes for sale now at Brickworks Park, contact our team on 1800 861 868 or register your interest here.