Glut Of Units Is Forecast For Brisbane Inner City Suburbs

Property economists have predicted that Brisbane inner-city suburbs will ride out an Apartment market downturn, which is expected to hit next year.

After the GFC there was a huge lack of Apartments being built so consequently the demand was greater than the supply of new Apartments. When conditions started to improve all the developers jumped into the market all at once.

This resulted in a large number of Apartments for sale in the Brisbane CBD & CBD fringe suburbs such as Spring Hill, West End, South Bank, Kelvin Grove & Bowen Hills. This could lead to an oversupply next year as all these new Apartments finish construction & come on the market for sale.

Inner city suburbs like Wooloowin, Albion, Fortitude Valley & Bowen Hills were forecast to be less susceptible as they had fewer Apartments for sale & development approvals & they were also aimed more at the domestic market rather than the international buyers.

Brisbane inner city suburbs & Brisbane CBD are always very high in demand , particularly now as more people like to be close to work & enjoy the lifestyle that inner city Brisbane offers.

Lets hope that the inner Brisbane city suburbs can survive the crash that is forecast for 2016.