Is there an oversupply in Brisbane inner CBD market?
Brisbane Inner CBD apartments have dropped further, now a typical unfurnished 2 bedroom apartments are asking for 450 per week and unfurnished 1 bedroom now asking for 350 per week.
However in our opinion the rent will become stabilise for a few months until the next batch of projects settling, as there is now a trend where people used to live in the middle ring suburbs due to budget, now can afford the rent in inner CBD which provided more choices, convenience and life style
Residential vacancies in Brisbane’s middle ring of suburbs almost doubled in the three months to September as the growing number of inner-city apartments sucked in tenants with competitive rental rates.
Suburbs including Kedron, Lutwyche and Carina lie within the band 5km to 20km from the centre of town that has suffered a jump in vacant rental properties to 4.5% from 2.3% in June, per REIQ figures.