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Bargain buys in Brissy CBD
Developers in Brisbane are bolstering the standard inclusions on inner city apartments in a bid to entice buyers, a new report has found.
According to the latest Place Market Report, banks in Brisbane are valuing properties well under listed sales prices with developers having to entice buyers with added extras.
Place Estate Agents’ Lachlan Walker said such a trend is making it difficult for sellers, but providing an ideal opportunity for astute investors to buy.
"I have seen current stock being listed at $795,000 and valued at $650,000 which is not good for the market," he said.
"Developers are adding value to off-the-plan purchases to combat this trend and the best stock will always get the highest rate of sale.
"Investors buying off the plan in today's market are likely to see substantial growth in the next two to three years. There's always a risk, but it's a calculated risk," he said.
A comparative study shows that most top ranking inner city residential developments offer only standard inclusions, such as stone kitchen bench tops, an oven, panoramic suburb views and outdoor living areas, but discerning buyers want more, according to the report.
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