CoreLogic’s head of residential research, Eliza Owen, has penned interesting research on Brisbane’s apartment market, which appears to be no longer oversupplied:
The narrative of over-supply and under-performance in Brisbane units has dominated conversations around south-east Queensland property for almost 5 years. At January 2020, Brisbane unit values remain 11.5% below their 2010 peak to be at similar levels to 2007. But the latest data on property values, construction and population growth suggest that the story is changing.
It is worth noting that over-supply is very much a unit-centric story. Houses across Brisbane have actually seen quite strong capital growth returns in the past few years, except for a brief, cyclical downturn over part of 2019.
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