Brisbane apartment market is at a crossroads

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I think we are going to see a continuation of the gentrification over the next few years.

The CBD was the only precinct out of the six within inner Brisbane to record an increase in transactions in the March quarter, however the 64 per cent jump was due to the launch of the 184-apartment Mary Lane project.

More than 8000 new apartments are expected to be launched from the June to December quarters, with Fortitude Valley (1747 apartments) and Newstead (991) dominating pending supply.

Mr Aikman said four large projects in Fortitude Valley, including the 686-apartment The Gregory, and the 590-apartment 100 Barry Parade, played a significant part.

“It’s going to change Fortitude Valley quite significantly, I think we are going to see a continuation of the gentrification over the next few years,” he said.

The Urbis quarterly report monitored 157 projects across inner Brisbane, with 89 surveyed. The quarter saw a weighted average price of $595,664 — $31,189 less than the previous quarter — with two-bedroom, two-bathroom stock the most popular product.