A new report finds that Brisbane’s resale market is improving, paving the way for stronger investment opportunities in the city’s apartments, according to Pepper Online.
The study titled “Place Advisory's 2014 Apartment Resales Report” noted an increase in the market activity, as investors seem to look into home loan refinancing to take their next steps on the property ladder.
The Queensland capital has been dubbed the most expensive location to buy a resold apartment. However, this does not mean it deters investors, the report suggested.
The lowest point for apartment resales recorded for the Brisbane market was in June 2011, with only 729 apartments sold.
As of June 2014, a total of 1,068 apartment contracts were exchanged, marking a 46% rise from levels recorded back in 2011.
However, the report said that transactions have been bolstered by a growing number of existing properties being made available. They accounted for 62% of all transactions over the most recent 12-month period.
The data also showed there is a 22% difference in price between new apartments and their resold counterparts.