Scarcity of apartments causes prices to go -UP
Scarcity of apartments causes prices to go -UP
Written by Ian Begaud Wednesday, 04 November 2009 20:33
Scarcity and a shortage of housing will cause price movement- up
Buyers are rushing back to the apartment market in southeast Queensland with sales up more than a third on a year ago.
Sales on the Gold Coast were up by 22 per cent, Ipswich and Logan recorded increases of 48 and 46 per cent respectively.
Look at the increases on the Gold Coast:
December quarter 2008 - 77 sales
March quarter 2009 - 117 sales,
June quarter 2009 - 178 sales
The latest Midwood Report says Brisbane's unconditional highrise unit sales in the August quarter were at their highest level in two years with 174 sales.
At present take up rate, only one year of stock is available as approvals for new units to be built dropped 43 per cent to a record low of 1500 in the first half of this year .Refer to our previous blog re: banks withdrawing $$$
