Brisbane apartment sales set to surge
The sale of off-plan apartments in Brisbane is set to surge according to a new report. Place Advisory says that there are 14 new blocks with up to 2,200 units about to go on sale this quarter and the report suggests that sales records could be smashed. Inner city living is growing in Brisbane although the percentage of residents living in apartments currently is half that of Sydney. Demand is growing driven by more affordable prices for apartments and the desire to be in city center locations.
HIA welcomes changes to building approvals process
A new streamlined process for approving domestic housing building work in Western Australia has been welcomed by the Housing Industry Association. HIA WA executive director John Gelavis says that it is a significant step in reforming the state’s building and planning system: “The planning process across the state varies from council to council, adding unnecessary delays and costs for homeowners and frustrating the commencement of domestic building works. These changes will streamline the approval process for domestic building work and reduce holding costs for homeowners, and ensure greater consistency and certainty for all parties.” Mr Gelavis believes that the Instant Start process should result in lower house prices.
Former warehouses revitalised as new homes
Warehouse conversions are not new but they are certainly gaining a new wave of popularity. As neighbourhoods are redeveloped and buyers look for something a little different, converted warehouses are providing a quirky take on newly built apartments. Location is usually a prime concern for homebuyers however the trend for warehouses appears to be less about the suburb and more about the building. Warehouse properties are attracting as much as four times the interest of other properties according to experts and the price that buyers will pay is often up to 20 per cent higher, partly due to higher construction costs.