The first quarter of 2019 maintained a ‘status quo’ performance with 122 sales, slightly down on the previous quarter with 130 transactions, according to Urbis’ latest Apartment Essentials report. As a percentage of available stock, this represented 8%, generally in-line with 9% in 2018 Q4.
Only one new project launched across the Inner Brisbane over the quarter, adding 56 apartments to the active supply.
“The first quarter of the year is typically a slower quarter for sales, and this one in particular has had impacts such as a royal commission and election whispers to contend with,” Mr Paul Riga, Director at Urbis, commented.
The Inner South has led sales activity making up 51% of the total sales in Brisbane in the first quarter, followed by the Inner North and Northshore.