Affordable Chermside housing around the corner

April 17, 2018 by  

Accommodation in Chermside may get more affordable due to an oversupply of city apartments.

The Brisbane market in apartments has become saturated, which has implications for the cost of accommodation in suburbs such as Chermside. Brochure printing can be used to highlight attractive deals. Over 50 development projects have been deferred recently because the demand for costly apartments has weakened.

A relevant report has been produced by the ANZ Research team. These economists looked at the national outlook recently. It would seem that the property market is likely to be sluggish. This forecast is related to the dip in property prices which occurred during the course of the last six months. It is impossible to predict the future of house prices with precision, but affordable options are likely to be available.

The evidence shows that there are quite a few unoccupied dwellings within Brisbane’s inner core. A vacancy rate in the apartment sector exceeding 15% has been reported; this high figure appears to be related to a weakness in the market for private rental property.

The fluctuating demand for property from overseas may be having an impact on the situation, with some believing stamp duty changes have had an influence on the behaviour of foreign investors. BIS Oxford Economics indicated that the volatility associated with other investment opportunities could have a bearing on what is happening.