Glut of Units in Brisbane Inner Suburbs

Brisbane’s inner-northern suburbs is predicted to be hit with a huge Unit market downturn as many developments come to a finish this year.

Many developers have entered the market all at the same time & as a result there is a very high number of Units for sale in the city & CBD fringe such as Spring Hill, West End, South bank, Bowen Hills, Kelvin Grove & South Brisbane.

The approval of all these units in the Brisbane CBD & fringe suburbs has led to an oversupply.

Inner city suburbs such as Wooloowin, Albion, Fortitude Valley & Bowen Hills will be less susceptible as they have fewer Units for sale & they are aimed more at the domestic market. Bowen Hills is one of the suburbs tipped to survive the downturn because of its position on the CBD’S fringe.

The Brisbane showgrounds project is set to revive the area with the construction of hundreds of new Unit buildings, commercial spaces & entertainment areas. Brisbane Showgrounds will become a vibrant new destination that will house almost 15,000 people. It will also create new jobs in the area.

This will also bring new & exciting alfresco dining, cafes & bars to the inner city Bowen Hills area. Nearby Clem 7 tunnel & Inner City Bypass makes the area very appealing to buyers. Other new Unit complexes include Central Village in Fortitude Valley, the Plaza at South Brisbane &Madison Heights at Bowen Hills.

Noel Milne from BPI Brisbane Central Building & Pest Inspections is still seeing lots of buyers in the Unit market & he believes the people best suited to enter the new Unit market were the cashed up owner occupiers.