The Courier Mail- Fri 28 Feb 2014 reports:

“Metro Property’s presence in inner Brisbane is set to get a whole lot bigger with the company spending $40 million on a development site in Newstead.

Pending formal development approval, Metro plans to build about 800 apartments across 4 towers on the site.

This is one of the few remaining development sites of any scale in the NEWSTEAD precinct.

Recent sales activity at other projects has reinforced the growing confidence that the Brisbane market will remain strong for some time especially the inner Brisbane CBD & surrounding suburbs.

Over the last 12 months there has been a surge in sales of apartments in inner Brisbane suburbs especially Newstead.

The current market has seen a strengthening demand from owner-occupiers at the upper end of the market and continued demand from young professional couples and individuals keen to be close to the action.”

Noel Milne from BPI Building & pest inspections agrees that competitive price and high demand for new apartments in inner Brisbane CBD & surrounding suburbs will keep the market buoyant in 2014.