Live the sweeter life at South Brisbane
With its convenient lifestyle and abundance of retail, entertainment and restaurant options, South Brisbane’s desirability continues to grow, according to latest sales and rental figures.
Two-bedroom South Brisbane apartments are achieving sale price premiums of 26 per cent over the city-wide median, and three-bedroom apartments an even healthier 39 per cent.
The figures are revealed in an exclusive report prepared by respected property consultancy Urbis for R&F Property Australia, with our landmark Brisbane 1 project in the heart of it all.
The numbers are mirrored in South Brisbane rental returns, with two-bedroom apartments earning a 27 per cent premium and three-bedroom apartments 39 per cent, as tenants increasingly seek all the benefits of inner-city living.
When it comes to new apartments, an additional suburb premium on established units ranges from 13 per cent for one-bedroom dwellings to a whopping 51 per cent for three bedrooms.
“There is a growing desire to live in inner city new apartments, especially within South Brisbane,’’ according to the Urbis report. “This is demonstrated in median sale price and weekly rental premiums over the Brisbane LGA.’’
The report also revealed that Brisbane has recorded the highest return for investors compared to Sydney and Melbourne, with an indictive 4.7 per cent gross rental yield citywide and 4.9 per cent for South Brisbane.
South Brisbane’s population continues to grow – and with good reason due to its cultural significance, amenity-rich locale and proximity to the CBD, according to Urbis.
With every convenience already at their doorstep, there is even more to come including the $3.6 billion Queens’s Wharf development, the $5.4 billion Cross River Rail project, the proposed Eagle Street Pier Waterfront Precinct and Brisbane Metro.
It’s good news for Brisbane 1 residents, where a selection of one, two and three- bedroom homes and luxurious penthouses featuring open-plan living and generous balconies are still available.