Inner-city Brisbane apartments ‘should be avoided’

By Staff Reporter


Despite many investors turning their attention to Queensland’s capital, an award-winning buyer’s agent has warned that buyers should be steering clear of the inner-city suburbs.

Simon Pressley, managing director of Propertyology and the Real Estate Institute of Queensland's and Real Estate Institute of Australia’s Buyer’s Agent of the Year, said in mid-2013 he started to observe an increase in buyer activity in Brisbane, spurring the city’s real estate recovery. Despite the positive signs, he said some investors were mistaken in thinking Brisbane was the best place to be parking their dollars at the moment.

“While we don’t believe Brisbane is the number one location to invest in right now we do like Brisbane’s outlook and are investing there again,” Mr Pressley said. 

The market, he said, should be approached with caution, with oversupply a looming issue.

“Over the past year, several new, multi-storey apartment complexes have settled around Brisbane [and] inner-city vacancy rates have increased to a more normal level of around three per cent as a result," said Mr Pressley.

“There is a significant level of new inner-city apartments in Brisbane’s pipeline. In our view, suburbs such as South Brisbane, West EndWest End, QLD West End, QLD West End, QLD West End, QLD, Fortitude Valley and Bowen Hills should be avoided by investors. Property consultants with vested interests will undoubtedly tell you differently.” 

Mr Pressley said the balance between supply and demand in Brisbane’s apartment market should stabilise as more baby boomers look to downsize and consider apartment living.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
Inner-city Brisbane apartments ‘should be avoided’
SPI logo