Will Brisbane join Sydney and Melbourne over the next 2 years with the volume of CBD apartments towers being built?
Over the last 18 months, if you are involved with the construction industry in Melbourne and Sydney it has been extremely busy especially in the number of residential towers being built. Some may argue that this period of growth is limited due to the basic economic principle of supply and demand (although in Melbourne as a supplier to the construction industry I have certainly not seen this manifest itself with demand for experienced candidates at its highest).
Is it now time for Brisbane to shine? The market has been relatively flat over the last couple of years however Brisbane apartment market has recently flourished on the back of strong investor demand from both interstate and foreign investors. There will be approximately 20,000 apartments coming to market or in construction between 2016-2018 this includes a number of high profile developments including the Brisbane 1 Complex a 600 apartment development in South Brisbane.
Hopefully, this will invigorate the Brisbane market and encourage some increased investment to compensate for the slowing Queensland resources market. Let’s hope so.