Brisbane Apartment's blog

Brisbane Apartment Blog

This is a backup site for the Brisbane Apartment blog.  The main site is located at

www.brisbane-apartment.com.  

Usually, the main site is update first and more regularly.  This blog contains information for investors, buyers, sellers and renters who have an interest in apartments and apartment developments in Brisbane.

Recent Popular Blog Posts about Brisbane Apartments

• Madison Heights, Bowen Hills
• Brisbane Apartment Sales Up
• Selling Your Apartment
• Soda Apartments, South Brisbane
• Brisbane house prices increasing
• Low Growth Conditions for Property
• Buying an Apartment off the plan

Peninsula at Kangaroo Point

Peninsula at Kangaroo Point is currently being marketed by TDD.  One bedroom plus study from $370,000; two bedrooms from $425,000 to $620,000.  Video here, that doesn't really say much.  This is being marketed as a "riverside" development.  Take care -- this is not a riverfront development.  In fact, it is much closer to the highway that goes across the Storey Bridge and the exit to the Clem7 tunnel than it is to the river.  See map here.

Urban Edge at Kelvin Grove

Pradella has completed two of the three buildings in its Urban Edgecomplex at Kelvin Grove.  The "Horizons" building recently completed, and residents have moved in.  The Skyview building, the third of the buildings on the site, is in early stages of construction.

Horizons is an 11 storey development, with about 133 apartments.  As at late May 2013, about 40 apartments were available for sale.  The majority of these apartments are on the Ramsgate Street side, facing west, and not with city views.  I counted 20 one bedroom apartments available for sale on this side of the building.

Some example apartments that remain for sale:

• Apt 20808, level 8, 1 bedroom, 52 sqm internal, 66 sqm total, $429,000
• Apt 20506, level 5, 2 bedrooms, 2 baths, 72 sqm internal, 85 sqm total, $550,000
• Apt 21105, level 11, 2 bedrooms, 2 baths, 76 sqm internal, 91 sqm total, $584,000
• See also REA listings

These apartments appear to be of good quality construction.  However, I don't like high-rise where the air-conditioning compressor is located on the balcony and where there are aircon headends on the walls.  For a number of apartments, the kitchen is just a row of benches on the wall, and the dining area is in this kitchen space.  (That is, no separate room or even an island bench-top for the kitchen.)  Some of the bedrooms have very small windows.

Bank of Queensland CEO warns about one bedroom apartments

A recent story in the Courier Mail sounds a warning about small apartments:

"Bank of Queensland is worried about a surge in people borrowing money to invest in small apartments, citing Brisbane and Melbourne as concerning spots.

Of particular concern was self-managed super funds (SMSF) engaging in the tactic, BOQ CEO Stuart Grimshaw said.  He said the assumption was these one-bedroom apartments would appreciate in value, but it was  a "risky part of the market" for heavily borrowed SMSF funds.

"I don't think it's long before ASIC will start looking at some of the sales methodology," he said."

Source:  Courier Mail, page 77, 8 June 2013.

Be warned!

Kelvin Grove Apartments - SkyView

Pradella is marketing SkyView apartments at Kelvin Grove.  These are part of the Urban Edge development.  The other two buildings on this site have been completed.  SkyView is currently in the early stages of construction.

The building is 14 levels.  There are 174 apartments.  Of these, 100 have one bedroom; 60 have two bedrooms and 14 have three bedrooms.

As at late May 2013, about 20 apartments had sold.

Prices range as follows:

• One bedrooms -- $326,000 to $484,000
• Two bedrooms - $506,000 to $705,000
• Three bedrooms - $789,000 to $889,000

Examples of apartments for sale:

• Apt 31010, level 10, 1 bedroom, bedroom at rear of apartment with no views, 51 sqm internal, 70 sqm total - $466,000
• Apt 30709, level 7, 2 bed, 2 bath, second bedroom at rear with no views, 81 sqm internal, 103 sqm total - $654,000
• Apt 30501, level 5, 3 bed, 2 bath, 114 sqm internal, 137 sqm total - $829,000

These apartments seem to be larger than many of the other apartments being sold by developers at present.  They also seem to me to be expensive.  The location is good.  The views will be great from the higher floors.  The design of building is only one apartment wide, so that airflow can go from the front of the apartment to the back.  Again, it seems that Pradella is putting air conditioning compressors on the balconies, which I do not like.  The living room is narrow -- 3.6m in some two bedroom apartments -- my rule of thumb is that the living room should be 4m wide and 6 m deep a minimum.  Here, the size is 3.6 m wide and 4m deep.

Recent Sales of Units and Apartments in Brisbane City

• Charlotte Towers, Apt 1504, 1 bed, 1 car, sold on 9 April 2013 for $410,000
• Felix, Apt 116, 2 bedrooms, sold on 30 March for $515,000
• Aurora, Apt 234, 2 bedrooms, sold at auction on 24 March for $548,500
• Charlotte Towers, Apt 501, 1 bedroom, 1 car, sold on 21 March for $415,000
• Skyline, Apt 61, 3 bedrooms, sold on 13 March for $710,000

Popular Blog Posts about Brisbane Apartments

This blog is not updated regularly.  See www.brisbane-apartment.com for more regular updates.

Some popular posts:

• Oversupply of Brisbane Apartments Coming?
• No Capital Growth for Brisbane Apartments
• The Oracle at Broadbeach
• Canvas South Brisbane
• The Midtown, in Charlotte Street in Brisbane
• Festival Towers
• Riverpoint and Flow
• Capital Loss in Meriton's Soleil

Overall, it seems like a dangerous time to buy off-the-plan in Queensland.

Books regarding Queensland real estate investing

Two Kindle books are worth considering if you are about to buy an apartment in Queensland.

Buying An Apartment Off The Plan in Queensland - A Guide For Successful Buying (Revised 2013 Edition)

and
Investing in Brisbane Apartments - A Guide for Successful Investing (2nd Edition)

These books are also available in the Apple online iTunes store for reading on Apple devices.

You can download and read this books now.

Affordability

It is no surprise that Sydney is the most expensive city in Australia for housing.  Brisbane apartments are some of the most affordable real estate in Australian capital cities.  This suggests to me that prices for Brisbane apartments may soon rise.