Fortitude Valley may get a lift from inner Brisbane

June 26, 2018 by  

The resilience of the economy of inner Brisbane could be set to boost Fortitude Valley.

While unit prices have been dipping in Brisbane as a whole, apartment prices for some inner-city properties have jumped by over 5% in the last year. Brochure printing in Fortitude Valley may get more business because of the buoyancy of the apartment scene.

A quarterly report from Place Advisory highlights that average prices for off-the-plan accommodation have nudged up.

Lachlan Walker works on behalf of Place Advisory, and is conscious of the details of the changing market. Two years ago, lots of apartments were being sold within inner Brisbane. However, Walker believes that some of these affordable properties were not of the highest quality. He thinks that the accommodation on sale near Fortitude Valley currently is of an impressive standard. He said:

“With very little new stock being released to Brisbane currently and in the foreseeable near term, we are definitely seeing a tightening on new apartment stock available for sale off the plan.”

At the moment, two-bedroom apartments are the most popular type. However, apartments with one bedroom constitute over a quarter of total sales in the neighbourhood.

Walker predicts that 3,500 properties are to be sold in the area in question prior to the beginning of 2019. This figure represents over two thirds of the stock being disposed of which is not on the plan.