Compare Listings

The key to selling your unit in Brisbane’s oversupplied market.

The key to selling your unit in Brisbane’s oversupplied market.

In recent years Brisbane’s construction boom has seen new apartment buildings popping up everywhere from Newstead to West End through to St Lucia. The oversupply of units has been widely publicised but despite this, apartments in our inner-western suburbs of Taringa, Indooroopilly, Toowong and St Lucia are actually selling quite quickly.

Complexes featuring 6 to 8 apartments, which usually contain more sizable units, are still generating a significant amount of interest from buyers, provided they get one crucial factor right:

Presentation.

Sold – 2/23 Bellevue Terrace, St Lucia $424,000

Several apartments we have recently sold have proved that presentation has been the key to their success. In each case we have taken the time to prepare the unit properly for sale, offering advice on how to add value and taking care of any maintenance issues. Our recommendations to arrange a minor facelift added significant value to the property and reduced the amount of objections presented by buyers during the negotiation process.

If the apartment was vacant, our interior stylist arranged for the property to be professionally styled and the difference was immediate. Each property was warm and inviting, engaging potential buyers and creating a knock-out first impression – far more preferable to an empty shell they may have otherwise seen online.

Sold – 4/11 Ada Street, Taringa $359,000

Not only were these units attracting competition amongst buyers, they were often receiving multiple offers and selling in a matter of weeks. The average days on market for a unit in Brisbane’s inner-west is 167 days. With our approach, it’s just 19 days.

Whilst they may not be able to compete with the brand new boutique apartments, they offer an opportunity for buyers who recognise the potential of adding modern improvements. These apartments tend to be generous in size with solid foundations that are ideal for renovating. The buildings are also smaller which appeals to buyers searching for a ‘no frills’ complex and low body corporate fees – something that is difficult to find in the abundance of new, resort style complexes.

With the median house price in Brisbane just shy of $700,000, buyers are seeing value in the entry level apartments to which they can add their own touches. An apartment which has been beautifully styled, professionally cleaned and had any maintenance issues attended to, can achieve a successful sale despite the oversupply of apartments in Brisbane.

The latest real estate insights for Brisbane’s inner-west.

Subscribe to our weekly eNewsletter for the latest property market trends in Brisbane’s inner-western suburbs.

 

Recently Sold

5/11 Ada Street, Taringa

– Sold $385,000

– Professionally styled

– 38 inspections

– 22 days on market


9/73 Payne Street, Indooroopilly

– Sold $322,500

– Original apartment

– 20 days on market

– Sale exceeded asking price


15/35 Dunmore Terrace, Auchenflower

– Sold $460,000

– 12 inspections

– 12 days on market

 


22/55 Hassall Street, Corinda

– Sold $325,000

– Original apartment

– 8 inspections

– 11 days on market


1/12 Dengate Lane, St Lucia

– Sold $515,000

– Professionally styled

– 17 inspections

– 32 days on market


 

Statistics – CoreLogic, May 2018.

img

Byrony O'Neill

Related posts

Preparing your home for sale

If you’ve made the decision to sell your property, the next step is preparing the home for...

Continue reading
Byrony O'Neill
by Byrony O'Neill

Should I buy first and then sell, or sell first and then buy?

11 factors to consider when making a move. When you are considering a move, one of the major...

Continue reading
Byrony O'Neill
by Byrony O'Neill

6 things you should know to get a great sale price

Are you contemplating selling your property? Here are 6 key things every home owner should do to...

Continue reading
Byrony O'Neill
by Byrony O'Neill