Been a while since I've posted, need to back into the game.... or just simple stop playing Fallout 4.... Anyway, each day slowly my view from my work office desk of the Brisbane River out to Hamilton and the Gateway Bridge is becoming obstructed by an influx of medium rise residential apartments being built in Newstead.
Newstead is an upmarket suburb with industrial historical roots with over 82% of the dwellings being units and only 15% stand alone houses. The area is slowly being developed into a mini apartment city with the Brisbane City Council zoning a large area of the suburb as medium to high density living.
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| Brisbane City Council |
The areas in my photos show the red zones (high density) in the image above and with a large part of the area to be dominated with high density properties it's only a matter of time until the supply outlasts the demand. This can be further reinforced through data from SQMResearch and realestate.com.au by comparing the stock on market for the suburb to the average number of visits per property to just get a general gauge of what the demand for buying/looking into the suburb is like.
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| SQMResearch |
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SQMResearch
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Currently total property listings are at 344 available and only 222 visits per property. With many developments still yet to come online the number of property listings is set to increase at a rapid rate compared to the number of visits per property listing. Capital growth for units in the suburb has been steady but it makes you wonder what is going to be the result of all this supply becoming available in the near future.
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