BRISBANE Apartment Report

BRISBANE 

Apartment Report 

June Quarter 2010 

Image Supplied by Mosaic, Fortitude Valley 

The Research 

Lachlan Walker is the Brisbane Projects 

Analyst for Colliers International. His complete 

focus is upon understanding projects within 

the Brisbane landscape. Through combining 

this knowledge with the power of Colliers 

International Project Marketing team, Lachlan 

is able to provide a point of difference for 

potential clients and therefore a competitive 

advantage over potential competition. Lachlan’s 

professional career has been rounded out 

with a Bachelor in Business and Commerce 

majoring in Management of Organisations, 

Banking, Finance and Accounting. 

When markets are extremely tight or 

economically unstable, demand increases 

significantly for information to help reduce the 

amount of risk and provide the intellectual 

capital required to make an informed business 

decision regarding a significant property 

transaction. Colliers International’s research 

department has the ability to service this need 

and provide well researched information and 

fully inform key stakeholders on market supply, 

market demand and specific market trends. 

“Price remains the most 

important driver for 

residential transactions. 

However those who 

can provide a point of 

difference and meet market 

expectations on value will 

recognise sales” 

Colliers International’s market leading research 

reports are considered a gateway into the 

property industry and a key tool for those 

entering the market. The company’s widely 

used material provides a valuable insight into 

the various facets of the property industry.

15 kilometre ring 

Map 

31 

32 

Chermside 

Middle West 

5 kilometre ring 

43 

Gaythorne 

45 

44 

Indooroopilly 

40 

Sherwood 

Inner West 

25 

29 

27 

37 

28 

8 

Inner North 

Inner South 

38 

15 

Tennyson 

3 

1 2 

City 

4 

30 

35 

Middle North 

16 

23 

21 

26 

18 

10 

6 

19 

14 

5 

9 

17 

22 

7 

Inner East 

34 36 

24 

20 

33 

13 

12 11 

Nundah 

41 42 

Carindale 

Middle East 

City Precinct 

1 Evolution – CBD 

2 Skyline Apartments – CBD 

3 Soleil – CBD 

4 The Macrossan – CBD 

Inner North 

5 Paragon on Arthur 

– Fortitude Valley 

6 Kingfisher Apartments 

– New Farm 

7 Promenade Hamilton 

Apartments – Hamilton 

8 Theodore Apartments 

– Kelvin Grove 

9 Pier at Waterfront – Newstead 

10 Park at Waterfront – Newstead 

11 Harbour One – Hamilton 

12 Harbour Two – Hamilton 

13 Riverside Hamilton – Hamilton 

14 Rivé – Breakfast Creek 

15 Edenview Apartments 

– Kelvin Grove 

16 Code Apartments – Bowen Hills 

17 Aris – Newstead 

18 Mosaic – Fortitude Valley 

Inner East 

19 Castlebar Cove – Kangaroo Point 

20 Quartz – Bulimba 

21 Scott Street – Kangaroo Point 

22 Forty Park Avenue 

– Kangaroo Point 

23 Yungaba – Kangaroo Point 

24 Aqua’ta – Bulimba 

Inner West 

25 Pulse Apartments – Milton 

Inner South 

26 Gabba Central I and II 

– Woolloongabba 

27 Riverpoint – West End 

28 SL8 – West End 

29 Waters Edge – West End 

30 Universal – South Brisbane 

Middle North 

31 Equinox – Chermside 

32 HQ – Chermside 

33 Madison Green – Nundah 

34 Focus – Chermside 

35 The Edge – Chermside 

36 C1 – Chermside 

Middle South 

37 Alderley Square – Alderley 

38 Farringford – Tennyson Reach 

– Tennyson 

39 Cargo Apartments 

– Coopers Plains 

40 Parklands at Sherwood 

– Sherwood 

Middle East 

41 Solito – Central Tower 

– Carindale 

42 Solito – South Tower – Carindale 

Middle West 

43 Pavillion in Botanic – Gaythorne 

44 El Dorado Village – Indooroopilly 

45 Verve Apartments – The Gap 

CONTENTS 

Inner Ring______________________________________________________________________________4 

City Precinct___________________________________________________________________________6 

Inner North Precinct____________________________________________________________________8 

Inner South Precinct__________________________________________________________________ 10 

Inner East Precinct___________________________________________________________________ 12 

Inner West Precinct___________________________________________________________________ 14 

Middle Ring Overview_________________________________________________________________ 16 

Middle North Precinct ________________________________________________________________ 17 

Middle South Precinct_________________________________________________________________ 18 

Middle East Precinct_ _________________________________________________________________ 19 

Middle West Precinct_________________________________________________________________ 20 

Special Report________________________________________________________________________ 21 

Research & Consultancy_______________________________________________________________ 22 

Glossary_ ____________________________________________________________________________ 23 

Prepared by Colliers International Research 

Author – Lachlan Walker Brisbane Projects Analyst 

Colliers International does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information 

contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have 

no belief one-way or the other in relation to the accuracy of such information, figures and projections. 

Middle South 

39 

Coopers Plains 

Methodology 

Projects are selected on the basis that they fall within a strict criteria as follows; 

Inner City Apartment Projects are selected using BCI Australia Value above $10 million. 

Middle Ring Apartments Projects are selected using BCI Australia Value above $5 million. 

Qualifying projects must be available for sale and new development stock only. 

Transactions are based on unconditional sales and settled sales depending on projects 

development cycle. 

Colliers International will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is 

contained in the material. 

Use with written permission only. All other responsibilities disclaimed. ©2010 

June Quarter 2010 3

Inner Ring 

Despite Market Sentiment, Brisbane Has Performed 

The end of the 2010 financial year has seen 

the Brisbane off-plan apartment market 

resist wider market sentiment of softening 

markets and general negativity to record a 

level of unconditional sales not seen since 

September 2007, before the Global Financial 

Crisis reached Australian shores. A total of 

308 unconditional transactions were recorded 

during the three month period to June 2010, a 

figure 19% above the March 2010 quarter and 

realising a rolling annual sales figure of 1,051 

apartments for Brisbane’s Inner Ring. 

A weighted average unconditional sales 

figure of $603,750 was recognised for the 

unconditional transactions recorded within five 

kilometres of Brisbane’s GPO, totalling almost 

$186 million in sales for the June quarter. 

The weighted average price is a figure 7% below 

the March 2010 quarter prior and 7% above 

the same period twelve months prior suggesting 

that the Brisbane market has stabilised around 

this point, balancing price pointed real estate 

with a level of luxury product still transacting 

in the market, albeit limited. 

The top performing project during the June 

2010 quarter was Leighton Properties’ Mosaic 

Apartments in the Fortitude Valley. The 210 

apartments were firstly soft launched to the 

market in October 2009 and have recorded 

unconditional sales for the first time in the 

June 2010 quarter. The Hamilton Harbour 

precinct, which has structured an investment 

focussed master plan, has again continued its 

dominance of the Brisbane market during 

the June period. Now selling through its 

third stage, the precinct saw a total of 67 

unconditional over its three buildings. Harbour 

Two recorded 36 unconditional sales whilst 

Riverside Hamilton saw 24 unconditional 

sales. A reasonable end price and targeted 

investment consumers has helped establish 

these continued results. 

Other strong performers during the three 

month period to the end of the financial 

year were Universal, Code Apartments, 

Mirvac’s Park at Waterfront and Soleil. 

Roca Construction’s Universal (34 sales) 

and Mirvac’s second stage at Newstead 

Riverpark, Park at Waterfront (26 sales) 

have recognised their first unconditional 

sales. Code Apartments, again reported 

solid transactions registering a further 26 

unconditional sales to take the project to 

75% sold whilst Soleil saw a further 19 

unconditional sales during the June quarter. 

Of the apartments which have been 

transacting within the Inner Ring, the demand 

has been focussed upon one and two 

bedroom stock over the past twelve months, 

totalling almost 95% of the transactions 

through the calendar year to June 2010. 

For the most recent June quarter specifically, 

two bedroom transactions saw the majority 

with 60% of the 308 unconditional sales, 

followed by one bedroom configurations 

which totalled 35% of the June 2010 quarter’s 

sales. Three bedroom configurations totalled 

4% of the quarter’s transactions whilst 

penthouse and sub-penthouse configurations 

made up the remaining 1%. 

The sales made for the quarter aligns directly 

with the apartments which remain for sale. 

Currently, Brisbane real estate remains a 

supply led market. As at the 30th of June 

2010, a total of 1,312 new apartments 

remain for sale, the majority of which are two 

bedroom apartments (42%). One bedroom 

variations closely follow with 35% of the 

available apartments whilst three bedroom 

configurations total 19% of the 1,312 

apartments. Importantly, based upon the sales 

rate realised during the June 2010 quarter, 

these 1,312 apartments are likely to supply 

the current market demand for just over 

12 months. 

An analysis of the existing real estate market 

has shown a market which has suffered a 

significant tightening in sales achieved through 

recent months. Across all Inner City precincts 

806 settled sales transacted during the March 

2010 quarter, a 20% softening in the number 

of transactions from the same period in 2009. 

Although the market continues to be driven by 

price pointed transactions with 67% of the 806 

settled sales recorded during the three months 

being under $500,000. The median price has 

however strengthened over the past twelve 

months despite the fact that the number of 

registered transactions has softened, recording 

an overall median of $437,500, a figure 9% 

above the same period in 2009. 

Colliers International Research is under no 

illusions that the Brisbane residential market 

is thriving. It is a tough market and those who 

are actively marketing residential projects 

have provided feedback that they must work 

hard to secure unconditional transactions. 

The off-plan market has fared better than 

the softening general real estate market, 

recognising a strengthening in sales rates 

driven by factors such as supply and price 

point. Consumers are pursuing projects which 

will recognise strong yields and the potential 

that capital growth will be recognised given 

an ever expanding population. 

Buyers remain scarce, given fears that interest 

rates will rise and the market will follow 

the US into a possible double dip recession. 

Combined with the Federal election and the 

surrounding controversy of indecision, has 

left many potential purchasers sitting on their 

hands. Positively however, those who are 

seeking a residential purchase have generally 

done their homework. They understand their 

capacity to purchase, their limitations and 

to some extent are prequalified in terms of 

their financial capability prior to the initial 

enquiry. They know what they are seeking in 

their residential acquisition and have a broad 

understanding of the underlying drivers which 

are impacting the wider market. 

The Brisbane apartment market will become 

an ever competitive precinct. A recent analysis 

has recognised that Inner Brisbane may see 

over 3,000 new apartments enter the market 

by December 2010. Large scale projects 

competing for the same buyers and offering 

similar value propositions. Projects which 

have been restructured from encompassing a 

majority of larger three bedroom apartments 

to high density one and two bedroom stock. 

Value propositions therefore must become 

ever competitive. Price remains the most 

important driver for residential transactions 

however those projects which can provide 

those factors which add long term capital 

appreciation such as access to infrastructure, 

amenity, view corridors, significant employment 

nodes and efficient apartment design will 

recognise superior results. Those who provide 

a point of difference and therefore meet market 

expectations on value will recognise sales. 

Successful projects must be forward thinking 

and counter cyclical in nature in order to 

achieve sustainable results in the long term. 

A full understanding of the new council 

town plans, and therefore the future of each 

individual region will become critical to 

recognise the vision for each precinct and 

the impacts new infrastructure, amenity and 

growth will have on the areas. This will not 

only fast track projects to the market but also 

allow projects to recognise potential growth 

areas, competition and understand the point 

of difference that you can provide. 

In Brief 

➤ The June 2010 quarter 

finished with 1,312 new 

apartments available for 

sale in Inner Brisbane 

NEW 

OFF-PLAN 

APARTMENT 

NEW APARTMENT 

SALES BY QUARTER 

SALES BY QUARTER 

Sept Quarter 2009 to June Quarter 2010 

Quarter Sep-09 Dec-09 Mar-10 Jun-10 

Available Units 986 927 1,045 1,050 

Added to market 214 349 301 570 

Sold this quarter 273 226 244 308 

Remaining units 927 1,050 1,102 1,312 

Prepared by Colliers International Research Source: Colliers Brisbane Unit Survey 

INNER CITY NEW UNIT SALES AND SUPPLY 

June Quarter 2005 to June Quarter 2010 

Jun-05 

Sold this Qtr 

Sep-05 

Dec-05 

Mar-06 

Available for Sale 

Jun-06 

Sep-06 

Dec-06 

Mar-07 

Jun-07 

Sep-07 

Dec-07 

Mar-08 

Jun-08 

Sep-08 

Dec-08 


GENERAL 

OFF-PLAN 

MARKET 

NEW APARTMENT 

MEDIAN PRICE 

SALES 

PER 

BY 

PRECINCT 

QUARTER 

Prepared by Colliers International Research Source: RPData 

➤ 308 unconditional sales 

were made suggesting 

a new unit supply of 

13 months 

Precinct Mar-10 Dec-10 Mar-10 Qtr change Annual change 

CBD $407,500 $474,000 $445,000 -6.1% 9.2% 

North $413,500 $472,000 $447,000 -5.2% 8.2% 

South $388,625 $340,000 $413,500 -3.8% 6.4% 

East $389,000 $445,000 $435,000 -2.2% 11.8% 

West $388,750 $430,000 $439,000 2.1% 12.9% 

Overall $400,000 $458,000 $435,000 -5.0% 8.7% 

Mar-09 

Jun-09 

Sep-09 

Dec-09 

Mar-10 

Jun-10 

1,800 

1,600 

1,400 

1,200 

1,000 

800 

600 

400 

200 

0 

Units 

➤ The weighted average sales 

price of new apartments 

in Brisbane for the June 

quarter was $603,750 

NEW INNER CITY UNIT AVERAGE SALE PRICE 

June Quarter 2005 to June Quarter 2010 

$200,000 

Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 

REMAINING STOCK INNER CITY BRISBANE 

Percentages by Variation - June Quarter 2010 

VACANCY RATE 

Residential Rental Apartments – June Quarter 2010 

6.0% 

5.0% 

4.0% 

3.0% 

2.0% 

1.0% 

Series 1 Linear (Series 1) 


45% 

40% 

35% 

25% 

20% 

15% 

10% 

5% 

0% 

One Bed Two Bed Three Bed Penthouse/Sub-penthouse Other 


0.0% 

Inner 

Remainder 

Brisbane 

of Brisbane 

Prepared by Colliers International Research Source: OESR 

Brisbane 

Surrounds 

➤ The median price of units 

in Inner Brisbane was 

$435,000 

Gold Coast 

Rest of 

Queensland 

$1,400,000 

$1,200,000 

$1,000,000 

$800,000 

$600,000 

$400,000 

Average Price 

4 Brisbane Apartment Report June Quarter 2010 5

City Precinct 

Consistent 

The most recent quarter ending June 

2010 saw 20 unconditional sales recorded 

within Brisbane’s CBD, a number not 

disproportionate to every quarter since 

December 2007. For this three month period 

a weighted average sale price of $527,000 

was recognised, the lowest weighted average 

new apartment price seen since the June 

quarter in 2004. When compared to the 

March quarter prior, this is a figure 17% below 

the weighted average recorded three months 

prior representing a $109,087 difference. 

This exemplifies the current consumer 

preference for price pointed real estate 

in today’s market. 

Weighted average sale prices and 

unconditional transactions within Brisbane’s 

CBD have remained very similar between 

quarters now for over two years. This however 

should be unsurprising given a market which 

has seen a limited change in the number of 

new residential projects entering the market, a 

softer than average consumer sentiment and a 

region whose land is scarce and as a result has 

a significantly more expensive land content 

than many Brisbane fringe sites. Given that the 

CBD precinct has seen significant commercial 

development in recent years, residential 

towers have been neglected. However, recent 

site sales, development applications and 

sites being actively marketed as potential 

residential development precincts indicates 

that the Brisbane CBD residential market may 

recognise significant change in coming years. 

The unconditional sales recorded during 

the three months to June 2010 was again 

heavily weighted by Soleil which recorded a 

phenomenal 19 of the 20 sales and therefore 

continuing the trend of the Meriton project’s 

governance within the Brisbane CBD 

marketplace. The Macrossan Residences 

recorded its first unconditional sale since 

the period ending June 2008. As the building 

approaches practical completion, predicted 

to be November 2010, Colliers International 

Research expect the sales rate within this 

luxury residential tower to again pick up, 

given a tangible product will be available for 

the prospective residential purchaser. 

The Brisbane CBD remains a supply led offplan 

market directly impacting the purchaser’s 

choice and as a result, the unconditional 

sales reported for the June period. Of the 20 

sales which transacted for the quarter, the 

majority of activity reflects the predominance 

of apartment type available for sale within 

the precinct, that of one bedroom variations. 

Sixteen of the 20 unconditional sales 

transacted were one bedroom configurations 

equating to 80% of the total transactions. 

Two beds saw 15% of sales whilst the remaining 

5% was in three bedroom configurations. 

As at the end of June 2010, a total of only 303 

new residential apartments remain for sale 

within the Brisbane CBD apartment market. 

The overwhelming majority of apartments 

which remain available for sale exist as 

one bedroom stock 65%. Two bedroom 

apartments total 22% of the 303 remaining 

available apartments whilst three beds and 

penthouse/sub-penthouse configurations total 

the remaining 13%. 

Given that the residential market is currently 

being driven by a price sensitive purchaser, 

smaller, tighter, denser residential precincts will 

continue to be delivered targeting the younger 

inner city renters and more affluent owner 

occupiers. The majority of the current CBD 

residents spend little time at home and are 

therefore open to the prospect of a smaller 

residence if it ticks all the other boxes: amenity 

rich precincts with access to infrastructure 

and employment – the CBD. The limited 

developers who own A-Grade sites however, 

have the luxury of deciding what product 

they wish to deliver. Affordable or luxury, 

or preferably a mixture of both. It becomes 

impossible to deliver only luxury ‘top-end’ 

residential apartments to the Brisbane CBD. 

The depth of this market remains slim in the 

Brisbane CBD and only the best product can 

attract this purchaser. 

It must be remembered that the Brisbane 

CBD is a market which is dominated by 

young professionals, who seek the CBD 

residence due to the lifestyle associated. 

The amenity which the precinct naturally 

provides and its proximity to the residents 

place of employment. It may therefore be the 

case that new residential product would be 

widely accepted by the Brisbane market which 

offers a diversity of choice. Either way, the 

development process must begin with the end 

in mind. Understanding who the buyer will be 

is the first step. Designing residential product 

which specifically appeals to this target market 

must however be the goal. 

General Apartment Market 

• The Brisbane CBD recorded a median price 

of $445,000 for the three month period to 

March 2010. This is a figure 6% below the 

December quarter prior yet 10% above the 

same quarter in 2009. 

• The strengthening median price suggests 

that buyers are taking their time to make 

a purchase decision, preferring apartments 

suit their immediate needs rather than price 

pointed real estate alone. There does 

however remain a heavy weighting of 

transactions toward the lower end of the 

price spectrum as buyers continue to be 

focussed upon sub $500,000 stock, totalling 

73% of the transactions. 

• The number of settled transactions within 

Brisbane’s CBD has softened slightly during 

the March 2010 quarter following the 

substantial increase recognised through the 

six months prior. 

• During the March 2010 quarter a total of 

116 settled sales transacted, 22% less than 

the period prior and 33% below the same 

period in 2008. 

• The $300,000 to $399,999 price bracket 

saw the predominance of activity 

throughout the March 2010 quarter 

registering 27% of the 116 settled sales. 

• For those who sold their apartment during 

the three month period to March 2010, an 

average annual capital growth was attained 

of 5.1% over the period the assets were 

held. Properties sold during the March 2010 

quarter were held for an average of just 

over 6 years. 

Planned Projects 

• Sunland has lodged a new development 

application for their acquisition of Devine’s 

Carrington site. The project is expected 

to span 44 stories and 223 apartments 

over a mix of one, two and three 

bedroom configurations. 

• The majority of planned projects remain 

heavily weighted toward smaller one 

and two bedroom product within the 

Brisbane CBD. 

• Meriton Construction’s Infinity, located at 

Herschel Street which began early works 

a number of months ago has been softly 

launched to the market. 

BRIEFLY... 

➤ 20 new CBD 

apartments were 

sold during the June 

2010 quarter 

New Apartment Sales 

New Projects Pending 

General Market Apartment Sales 


➤ 303 new apartments 

remain for sale 

within the 

Brisbane CBD 

Development Suburb Status 

Project Name Project Status Total Proposed Apartments 

400-410 Queen St Feasibility/Deferred 25 

549 Queen st Feasibility/Deferred 206 (1,2,3 Beds) 

Meriton, Herschel St Development Approval 629 (1,2,3 Beds) 

Silverpoint Towers Development Approval/Deferred 36 (4 Beds) 

Trilogy Tower Development Approval/Deferred 277 (1,2,3,4 Beds) 

Vision Construction/Deferred 392 (1,2,3 Beds) 

Waterfront Palace Development Approval/Deferred 200 (1,2,3,4 Beds) 

Hogan Place Development Application 138 (1,2,3 Beds) 

140 Alice Street Development Application 223 (1,2,3 Beds) 

Prepared by Colliers International Research Source: BCI Australia, BCC 

Sale Price Range Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 

Less than $300,000 22 34 37 19 19 

$300,000 to $399,999 61 92 53 33 24 

$400,000 to $499,999 46 53 57 29 32 

$500,000 to $599,999 16 15 16 22 10 

$600,000 to $699,999 3 13 21 14 13 

$700,000 to $799,999 14 9 7 10 9 

$800,000 to $899,999 3 3 5 6 4 

At least $900,000 9 11 20 15 5 

Grand Total 174 230 216 148 116 

➤ The weighted average 

price of a new CBD unit 

was $527,000 for the 

June quarter 

Evolution CBD Completed 178 173 0 5 

Skyline Apartments CBD Completed 192 191 0 1 

Soleil CBD Under Construction 414 128 19 286 

The Macrossan CBD Under construction 42 31 1 11 

Summary - 4 Projects 826 523 20 303 


Total 

Units 

➤ The median price 

of the general CBD 

apartments was 

$445,000 

Sold to 

Date 

Examples of Current Apartment Rents 

Project Beds Bath Car Furnished Rent $ Pw 

The Manhattan Apts 2 2 0 Yes $430 

Gardens Apts 1 1 0 Yes $400 

Metro 21 1 1 0 Yes $480 

Mayfair Residences 2 2 1 No $520 

San Domenica 2 2 1 No $450 

Gardens Apts 2 2 1 Yes $610 

Metro 21 2 2 1 Yes $660 

Grosvenor Apts 2 2 1 No $800 

San Domenica 3 2 2 No $600 

Grosvenor Apartments 3 2 2 Yes $1,000 

Prepared by Colliers International Research Source: SEQ Rents 

Sold 

June 

QTR 

Available 

for Sale 


Inner North Precinct 

The Majority of Residential Transactions 

New Apartment Market 

Brisbane’s Inner North apartment market 

remains the shining light for residential offplan 

apartment transactions during the June 

2010 quarter. Of the total 308 unconditional 

transactions recorded during the most recent 

three month period, 70% occurred within 

Brisbane’s densifying Inner North precinct. 

A total of 214 unconditional sales were 

registered within the precinct a figure 43% 

above the March quarter prior and the highest 

number of recorded sales since the June 

2002 quarter. 

The three month period to June 2010 saw 

a weighted average sale price of $585,280, 

a figure in line with the March quarter prior 

of $583,333 and reflective of the markets 

continued propensity to purchase price pointed 

real estate over the past 18 months. 

As at the 30th of June 2010 a total of 636 

apartments remain for sale in Brisbane’s Inner 

North. When this is translated into the current 

market supply in months, based upon the 

sales rate recognised during the June quarter, 

these 636 available apartments are likely to 

supply the Inner North for only nine months, 

suggesting that there is a definite undersupply 

of apartments currently for sale in the Inner 

North if sales rates recognised continue to 

be upheld. The most significant proportion 

of these available apartments remains as two 

bedroom configurations which total 47% of the 

available stock. One bedroom configurations 

total 29% of the 636 available apartments 

followed by three beds with a considerable 

18% of the stock. 

The proportion of stock sold during the June 

2010 quarter was indicative of the apartments 

available for sale. Of the 214 unconditional 

transactions which occurred during the quarter, 

two bedroom apartments featured with the 

greatest proportion of transactions, equating to 

57% of the sales. One bedroom sales followed 

closely with 40% of the quarter’s sales whilst 

three and four bedroom transactions totalled 

the remaining 3%. This remains in line with the 

demand recognised by the consumers current 

preference for price pointed real estate. 

Brisbane’s Inner North continues to expand 

in terms of the number of residential projects 

currently being actively marketed, leading the 

market in terms of availability and hence the 

number of unconditional sales per quarter. 

A total of 14 projects are currently on the 

market following the new release of Park at 

Waterfront and Mosaic. 

Leighton Properties’ new residential tower, 

Mosaic, located in the Fortitude Valley saw 

the highest level of unconditional sales during 

the June quarter 2010. The building has seen 

80 unconditional sales to June 30 taking the 

building to 38% presold. The Hamilton Harbour 

Precinct has also maintained its presence as 

one of the best performing projects. Hamilton 

Harbour Two recognised 36 unconditional 

sales during the three months to June 2010 

closely followed by the new Leighton’s and 

Devine tower, Riverside Hamilton, which saw 

24 unconditional transactions during the three 

months to June 2010. Other strong performers 

were Park at Waterfront by Mirvac which 

recorded 21 unconditional sales and Code 

which saw 26 unconditional sales. 

The strong population growth recognised in 

the greater Brisbane area and the council’s 

emphasis on infill development bodes well for 

the Inner North looking to continue its Inner 

City market dominance. Our recent analysis of 

this market suggests that there are up 4,500 

apartments at different stages of Development 

Application and marketing release. 

When combined with the delivery of extensive 

infrastructure and amenity continued 

densification will occur as long as apartments 

remain price pointed to meet the demands 

of the active residential purchaser. 


• The Inner North precinct transacted the 

highest number of settled transactions for 

the March 2010 quarter across all precincts 

recording a total of 255 settled sales. 

Consistent with all other inner city precincts 

this was a softening from the period prior. 

• The $400,000 to $499,999 and the 

$300,000 to $399,999 price points 

recorded the highest percentages of 

transactions at 27% of the 255 settled 

sales for the quarter 

• The median price established for the Inner 

North during the March 2010 quarter 

was $447,500. Median prices have slightly 

softened against last quarter (5.2%) 

however strengthened 8.2% over the 

longer 12 months period. 

• A resale analysis was undertaken in order 

to establish returns achieved by those who 

exited the Inner North property market 

during the three months to March 2010. 

Again, an average annual capital growth of 

7.9% was sustained by those who sold their 

properties. These apartments were held 

for an average of just under 6 years before 

being resold into the market. 

• The Inner North continues to recognise 

stable growth in median weekly rents 

according to the RTA. The median weekly 

rent for a one bedroom apartment within 

the Inner North was $320 whilst a two 

bedroom apartment achieved a median 

weekly rent of $440. 

• Asking rents in the open market do 

however continue to achieve slightly higher 

returns. An apartment in the Viva is seeking 

a tenant to reside in a two bedroom for 

$650 per week whilst a one bedroom 

residential tenancy in Freshwater is seeking 

a tenant at $525 per week. 


• The Inner North precinct continues 

to maintain a strong pipeline of 

development activity. 

• Over 4,000 apartments are at different 

stages of the development process. 

On top of this, there have been a number 

of significant site sales which could see the 

region‘s pipeline supply expand a further 

1,000 apartments. 

BRIEFLY... 

➤ The Inner North outperformed 

all Inner City precincts, 

recording 214 unconditional 

apartment sales 


New Projects Pending Name Project Status Likely No of Apts 


Sale Price Range Dec-09 Mar-10 Jun-10 Jun-10 Sep-10 

Less than $300,000 39 32 33 9 24 

$300,000 to $399,999 100 109 89 69 67 

$400,000 to $499,999 97 96 121 85 70 

$500,000 to $599,999 28 50 75 47 39 

$600,000 to $699,999 19 25 19 23 25 

$700,000 to $799,999 12 10 16 16 5 

$800,000 to $899,999 7 8 9 12 9 

At least $900,000 12 11 29 29 16 

Grand Total 314 341 391 290 255 



price for a new 

apartment in this 

precinct was $585,280 

Development Suburb Status 

Paragon on Arthur Fortitude Valley Completed 39 33 1 6 

Edenview Apartments Kelvin Grove Under Construction 65 35 3 30 

Promenade Hamilton Apts Hamilton Under Construction 172 133 0 39 

Theodore Apartments Kelvin Grove Under construction 69 61 0 8 

Pier at Waterfront Newstead Under Construction 99 56 1 43 

Pier at Waterfront Newstead Awaiting Construction 102 21 21 81 

Hamilton Harbour - One Hamilton Under Construction 257 249 7 8 

Hamilton Harbour - Two Hamilton Under Construction 212 176 36 36 

Hamilton Harbour - Riverside Hamilton Awaiting Construction 189 24 24 165 

Mosaic Fortitude Valley Awaiting Construction 210 80 80 130 

Rive’ Apts - Stage 1 Hamilton Under Construction 95 59 5 36 

Code Bowen Hills Awaiting Construction 132 100 26 32 

Kingfisher Apartments New Farm Under Construction 32 31 2 1 

ARIS Newstead Under Construction 39 18 8 21 

Summary - 14 projects 1,712 1,076 214 636 


Chester St Development Approval/Deferred 63 (1 Beds) 

Bonney Lane Housing Development Development Application 83 (Studio, 1 Bed) 

41-47 Beeston St Development Approval/Deferred 44 (1,2,3 Beds) 

458 Brunswick St Development Application 87 (1,2,3 Beds) 

8 Best St Bowen Hills Development Approval 34 (2 Beds) 

McLachlan & Ann Development Application 307 (1,2,3 Beds) 


➤ 636 apartments 


within Brisbane’s 

Inner North 

Total 

Units 



V Human Space 1 1 1 No $350 

Cannery 1 1 1 No $365 

Freshwater 1 1 1 Yes $525 

Cube Apartments 2 1 1 No $400 

Ultra Apartments 2 2 1 No $420 

Time Square 2 2 1 No $450 

Cannery 2 2 1 No $450 

Degree 2 2 1 No $470 

Ignition 3 2 1 Yes $650 

Viva 3 3 2 No $650 


➤ The median price of 

units within the general 

apartment market was 

$447,500 

Sold to 

Date 

Sold 

June 

QTR 

Available 

for Sale 


Inner South Precinct 

Significant Infrastructure Spend 

Brisbane’s Inner South unconditional sales 

have strengthened further during the three 

month period to June 2010. A total of 49 

unconditional sales were recorded for the 

precinct, the strongest sales rate since the 

December quarter 2008 eighteen months 

prior, and a figure 80% above the period 

prior which saw only 27 transactions. 

The 49 unconditional sales recognised a 

weighted average figure of $605,612, a figure 

approximately $115,000 below the March 

quarter three months prior yet directly in l 

ine with the December period 2009. 

The softening weighted average is 

representative of the markets continued 

propensity to buy price pointed real estate 

which provides secure investment returns. 

The June 2010 quarter Inner South 

unconditional sales were heavily weighted 

by the new release of Universal Apartments 

in South Brisbane. This price pointed 

project developed by Roca Constructions 

saw a total of 34 transactions and the 

overwhelming majority of sales in the Inner 

South. Waters Edge was again one of the top 

performing projects in the region, recording 

13 unconditional sales for the three month 

period to June. 

Of the unconditional sales which transacted 

within the Inner South, the overwhelming 

majority was in two bedroom configurations. 

Almost 90% of the regions sales were in two 

bedroom variations. The remaining 7% of sales 

recognised during the quarter were in three 

bedroom transactions. 

In terms of the stock which remains for sale, 

the Inner South is one of Brisbane’s precincts 

which are heftily weighted toward two and 

three bedroom apartments. At the end of the 

financial year 214 new developer apartments 

remain for sale within the precinct. 

When these 214 available apartments are 

broken down by product type, 52% are 

two bedroom configurations, 34% are three 

beds and only 13% are one bedroom types. 

This suggests that, considering the wider 

apartment market is transacting price pointed 

real estate, and as a result demanding smaller 

one and two bedroom apartments Colliers 

International research suggests that there 

is a significant opportunity to release price 

pointed one and two bedroom apartments 

to the region. 

Recent years have seen the Inner South 

precinct come under the spotlight for 

redevelopment given its significant 

development potential and its desirability as 

a place to visit, work and live. An Inner City 

precinct, currently underdeveloped, the Inner 

South has been identified as one of Brisbane’s 

foremost developing precincts. Its proximity 

to a cultural hub, schools, universities, 

hospitals, major entertainment arenas as 

well as direct access to major developing 

transport infrastructure nodes will unduly 

accelerate this growth. 

West End has however, again ignored the 

potential for which the region can provide. 

The South Brisbane Riverside Plan has 

restricted its building heights from twelve 

stories to only seven, negatively impacting 

proposed development in the region. From 

the perspective of residential projects, 

the Inner South’s location, investment in 

infrastructure and surrounding amenity 

will drive demand; the greater community 

must however recognise that well planned 

sustainable development will facilitate the 

long term growth of the precinct. 


• The most recent three month period 

ending March 2010 has recorded a total 

of 129 settled sales for the 2010 quarter. 

This number reflects a 30% strengthening 

in the number of settled sales against the 

December quarter prior. 

• The Inner South recorded a median price 

of $413,500 for the March 2010 quarter. 

This a softening of 3% from the December 

quarter prior which saw a figure of 

$430,000 however is a 6% strengthening 

from the same period twelve months prior. 

• The majority of settled sales recorded 

within the three months to March 2010 

were under the $500,000 mark. A total of 

70% of transactions were recorded below 

this mark whilst the most active price point 

was the $400,000 to $499,999 price point, 

which realised 30% of the total transactions. 

• The $300,000 to $399,999 price point also 

registered significant levels of sales during 

the quarter with 22% of transactions. 

• Colliers International undertook a resales 

analysis to substantiate real gains within 

the Inner South precinct. For those who 

sold their apartment during the June 

period, a strong average capital growth was 

attained of 8.5% per annum. This was the 

highest average annual capital growth across 

all precincts during the March quarter. 

For the properties which were resold 

during the quarter, the average hold time 

was 5.5 years. 

• Figures released by the RTA for the March 

quarter suggest that the median weekly rent 

for a one bedroom apartment is currently 

$290, whilst a two bedroom apartment 

demands a median weekly rent of $450. 

• Asking rents on the other hand tell a 

different story. A two bedroom apartment 

within Riverview Gardens for example 

is currently seeking a tenant at $650 per 

week, whilst a three bedroom apartment 

in Koko is asking for a long term tenant at 

$850 per week. 


• Station 16 and Montague will recognise 

unconditional sales during the September 

2010 quarter following public releases to 

the market. 

• The Inner South is currently revisiting their 

town planning scheme, with particular 

emphasis on building heights and density. 

• The State Government has recently put 

forward plans to enable up to 40 stories 

to be developed in the Woolloongabba 

local area. 

BRIEFLY... 

➤ 49 unconditional 

sales were recorded 

within the Inner 

South precinct 




price of a new 

apartment for the 




Less than $300,000 29 28 26 8 25 

$300,000 to $399,999 47 50 47 33 28 

$400,000 to $499,999 28 31 51 22 38 

$500,000 to $599,999 13 16 14 14 17 

$600,000 to $699,999 9 10 8 5 6 

$700,000 to $799,999 6 3 7 6 9 

$800,000 to $899,999 2 2 3 1 

At least $900,000 8 8 5 8 5 

Grand Total 140 148 108 99 129 


remain available for 

sale at the end of the 

June 2010 quarter 

New Apartment Sales Development Suburb Status 

Gabba Central I and II Wooloongabba Completed 271 269 2 2 

Riverpoint West End Completed 129 94 0 35 

SL8 West End Completed 112 109 0 3 

Waters Edge - Reach West End Under construction 234 95 13 139 

Universal South Brisbane Awaiting Construction 69 34 34 35 

Summary - 5 projects 815 601 49 214 


Name Project Status Likely No of Apts 

45 Boundary St Development Approval 46 (1,2,3 Beds) 

151-159 Logan Road Development Application 83 (1,2 Beds) 

320-324 Vulture St Development Application 214 (1,2,3 Beds) 

Station 16 Development Approval 60 (1,2 Beds) 

Gabba One Development Application 115 (1,2,3 Beds) 

Buranda Village Development Application 866 (1,2,3 Beds) 

Southpoint Development Approval 247 (2,3 Beds) 

West Village Development Application/Deferred 212 (1,2 Beds) 

Montague Development Approval 424 (1,2,3 Beds) 

Phoenix Deferred 626 (1,2,3 Beds) 


Total 

Units 



SW1 1 1 1 Yes $510 

River Plaza Studio 1 1 No $295 

SL8 1 1 1 No $410 

Saville 1 1 1 No $380 

South Edge 2 2 1 Yes $600 

Koko 2 2 1 No $530 

SL8 2 2 1 No $610 

Leftbank 2 2 2 No $610 

Riverview Gardens 2 2 1 Yes $650 

River Plaza 2 2 1 Yes $575 

Koko 3 2 2 Yes $850 


➤The median price for 

general apartments within 

Brisbane’s Inner South was 

$413,500 

Sold to 

Date 

Sold 

June 

QTR 

Available 

for Sale 


Inner East Precinct 

Supply Constrained 


The June 2009 quarter saw 18 registered 

unconditional sales in the Inner East precinct 

at a weighted average price of $921,667. This 

is the highest weighted average price recorded 

of any inner city precinct by over $300,000, 

and as can be expected in a price sensitive 

and volatile marketplace, the sales rates are 

reflective of this, falling considerably from the 

44 unconditional sales registered in the March 

quarter prior. 

Of the stock which transacted during the 

quarter, the majority of transactions occurred 

within two bedroom variations, recording 56% 

of the total sales. Three bedroom apartments 

recorded 34% of the 18 transactions whilst 

the remaining 10% of sales were in one 

bedroom configurations. Whilst it could be 

argued that these sales are a result of the 

product type which is currently offered to the 

market, it should also be recognised that the 

Inner East has been a region with limited new 

supply in recent years which has restricted 

unconditional sales registered. 

Yungaba and Aqua’ta again outperformed all 

other projects within Brisbane’s Inner East 

recording seven unconditional sales a piece 

during the three month period to June 2009. 

Yungaba at a weighted average figure of over 

$1.1 million and Aqua’ta at approximately 

$670,000. Quartz again recorded a consistent 

four unconditional transactions. 

The Inner East therefore closes the 2010 

financial year with 123 apartments available 

for sale over six different projects. Of the 

stock which remains for sale in the Inner East 

precinct, there is an overwhelming majority of 

two and three bedroom apartments. A total 

of 52% of the stock available for sale exists as 

two bedroom off-plan apartments whilst three 

bedroom variations total a further 41% of the 

remaining stock. One bedroom apartments 

total only 6% of the apartments available 

for sale suggesting there may be a demand 

for this product mix. With the focus on high 

end, $1 million plus residential in the region 

currently, the projects being actively marketed 

can expect a slower than average rate of sale 

given the $1 million plus market was a very 

small proportion of the total settled sales 

registered for the quarter, less than 5%. 

A considerable challenge continues to occur 

for new apartment product available for 

sale within Brisbane’s Inner East precinct. A 

significant price differential continues to exist 

between the new apartment transactions, 

a weighted average price of $921,667, 

and the resold stock which recognised an 

average price of $504,198. This equates to an 

enormous differential of 83% between the 

two figures and is a telling example of why 

minimal new apartment sales are occurring 

when compared to the existing market. 

Competition for buyers is, and will continue 

to be, a prevalent issue for new apartment 

configurations within the Inner East precinct. 

The greatest competition being the existing 

apartment market. Into the future, a lack 

of stock and limited future stock given land 

constraints in the region, may provide the 

motivation instigating the capital growth 

required to force resale apartment values 

closer to the new apartment product 

currently available for sale within the 

marketplace. The new apartment stock 

delivered to the market must ensure that the 

end user is front of mind and competes on 

a level which appeals to the target market, 

whether it is owner occupier or investor 

stock. The project cannot be all things to all 

markets; however effective design will allow 

different aspects of the building to appeal 

to varying markets. Currently, price is the 

underlying factor adding or detracting from 

the consumer’s motivation to purchase. Value 

propositions in development must be strong 

and encompass different elements including 

location, lifestyle, amenity, infrastructure, 

design and view corridors in order to appeal 

to a competitive market surrounding the 

individual purchaser 


• The median price for an apartment within 

the Inner East precinct during the three 

month period to March 2010 was $435,000 

a softening of 2% from the December 

period prior and a figure 11.8% above the 

same period in 2009. The Inner East was 

the only region to recognise double digit 

growth over the past twelve months. 

• In terms of price point activity derived 

from the settled sale price of the Inner East 

apartment market, activity continues to be 

heavily weighted toward the sub $500,000 

price point with 68% of the quarter’s sales 

falling below this point. 

• Brisbane’s Inner East has seen a 

strengthening in the settled sales activity 

registered during the three month period 

to March 2010. A total of 189 settled 

sales were recorded during the most 

recent quarter, a figure 22% above the 

quarter previously. 

• A resale analysis was undertaken by Colliers 

International Research in order to establish 

returns achieved by those who exited the 

Inner East property market during the 

March 2010 quarter. An average annual 

capital growth figure of 7.5% was realised. 

Properties were held on average for 7 years 

before being resold. 

• Demand for tenancies within Brisbane’s 

Inner East has seen stable rental returns 

through recent months. According to 

the RTA, median weekly rents for a one 

bedroom apartment in the Inner East are 

$310 per week whilst a two bedroom 

apartment saw a median weekly rent of 


• Current market rates suggest that rental 

tenancies are seeking much higher weekly 

returns than the median suggested by the 

RTA. A two bedroom apartment in Silver 

Quays is asking for a tenant at $700 per 

week whilst a three bedroom apartment in 

One Holman Street is seeking a tenant at 

$1,000 per week for a long term tenant. 

Planned Apartment Market 

• A number of sites remain for sale in the 

precinct and are seeking a developer who is 

able to undertake the proposed projects. 

• The Inner East remains as one precinct 

which will look continue to be 

undersupplied into the long term. 

BRIEFLY... 

➤ 18 new unconditional 

sales were registered 

during the June 

2010 quarter 






price of a new 

apartment for the 


Project Status Likely No of Apts 

Seven Hills Tafe Redevelopment Development Application 250 

53-61 Kitchener St Development Approval/Deferred 28 (1,2,3 Beds) 

@20 Development Application 192 (1,2,3 Beds) 

Dockside Garden Towers Development Application 102 (1,2,3,4 Beds) 

Life Options Project Development Approved/Deferred 32 (1,2 Beds) 

Shafston International College Development Application 142 (2,3 Beds) 

498 Wynnum Road Development Application 72 

125 Bulimba St Bulimba Development Approval 34 (1,2,3 Beds) 

Community Care Centre - Coorparoo Development Approval 20 (1 beds) 



Less than $300,000 26 18 23 7 18 

$300,000 to $399,999 73 85 76 48 54 

$400,000 to $499,999 47 33 51 39 57 

$500,000 to $599,999 15 18 26 27 29 

$600,000 to $699,999 2 13 13 12 12 

$700,000 to $799,999 3 4 2 3 3 

$800,000 to $899,999 2 4 2 9 4 

At least $900,000 13 8 17 10 12 

Grand Total 181 183 210 155 186 

➤123 units remain 

available for sale 


Inner East precinct 

Name Suburb Status 

Castlebar Cove Kangaroo Point Completed 38 34 0 4 

Forty Park Avenue Kangaroo Point Completed 5 4 0 1 

Scott Street Kangaroo Point Under Construction 11 5 0 6 

Quartz Apartments Bulimba Under Construction 52 40 4 12 

Yungaba Promontory Kangaroo Point Awaiting Construction 68 31 7 37 

Aqua’ta Bulimba Under Construction 81 18 7 63 



Total 

Units 



Lana Place 1 1 1 Yes $310 

1 Holman Street 1 1 1 No $410 

The Docks on Goodwin 1 1 1 No $420 

Vicinity 2 2 1 No $420 

The Docks on Goodwin 2 2 1 Yes $630 

Stradbroke Tower 2 2 1 Yes $700 

30 Silver Quays 2 2 2 Yes $700 

Shaftson Towers 3 2 1 Yes $750 

1 Holman Street 3 2 2 No $1000 


➤ The general apartment 

market registered a median 

price of $435,000 

Sold to 

Date 

Sold 

June 

QTR 

Available 

for Sale 


Inner West Precinct 

Little Now, Little Later 


The Inner West saw a total of seven 

unconditional sales within the precinct during 

the three month period to June 2010. Again, 

as the only new apartment project remaining 

for sale within the Inner West precinct, Pulse 

Apartments remains as the sole contributor to 

the Inner West precinct. 

Only 28 apartments remain for sale within the 

Inner West precinct. Of these 28 apartments, 

the majority of stock which remains for sale 

is in two bedroom configurations (75%). The 

remainder are one bedroom apartments. 


quarter, the majority of transactions occurred 

within two bedroom variations, in line with the 

current market supply in the area. A total of 

94% of the total sales during the June quarter. 

Three bedroom apartments recorded 6% of 

the 7 transactions whilst it could be argued 

that these sales are a result of the product 

type which is currently offered to the market, 

it should also be recognised that the Inner 

West has been a region with extremely 

limited new supply in recent years which 

has restricted unconditional sales registered 

periodically. 

The Inner West apartment market recognised 

a weighted average price of $557,143 for the 

June period. This is a figure directly inline with 

the weighed averages recognised in recent 

periods and should be expected given Pulse 

has been the only new project for the past 12 

months. 

The Inner West has suffered another quarter 

of supply constraint leading to limited 

unconditional sales. The Milton has begun its 

pre release campaign. If the market remains 

reasonably strong, Colliers International 

Research expects this project this project 

to perform well given the market has been 

supply constrained for many periods. 

The stage of future new off-plan 

developments has changed very little through 

the most recent quarter as no new projects 

have entered the market and many remain 

deferred pending market conditions. Milton 

appears to be where future density is going 

to be focussed in the short term, making use 

of the height limits and potential densification 

corridors enabled by the local council under 

the new town plan. 

The Inner West, consistent with a well 

established Brisbane precinct, contains strong 

educational nodes, retains a strong student 

population and has a well established high 

end purchaser demographic reflective of the 

professional inner city white collar worker 

which resides in the region. The Inner West 

will continually demand residential product 

of significant scale as land remains scarce 

and prices continue to rise in the housing 

stock. It is therefore common sense to deliver 

a project to the market which meets this 

demand, remains relatively affordable in terms 

of end price whilst providing a solution to the 

population’s problems. The one issue which 

will have a significant impact into the future 

will be transport infrastructure. A solution 

must be found and the council is working hard 

to resolve the congested Coronation Drive, 

however there remain only two main roads in 

the Inner West and no short term solution is 

forthcoming. 


• Brisbane’s Inner West recorded a median 

price of $388,750 for the three month 

period to March 2010. This reflects a 9% 

softening from the same period in 2009. 

This equates to a difference of $40,750 

from March 2009 to March 2010. 

• Transactions are still however, substantially 

weighted toward the lower end of the price 

spectrum with over 72% of sales transacting 

below $500,000. The $400,000 to $499,999 

price bracket saw the predominance 

of activity throughout the most recent 

quarter registering 36% of the 117 settled 

sales, slightly outweighing the $300,000 to 

$399,999 price point which saw 29%. 

• The number of settled transactions within 

Brisbane’s Inner West has softened slightly 

during the March quarter. 

• During the march 2010 quarter, a total of 

117 settled sales transacted 24 less than the 

period prior however 60% below the same 

period in 2009. 

• For those who sold their apartment during 

the three month period to March 2010, an 

average annual capital growth was attained 

of 7.9% over the period the assets were 

held. Properties sold during the March 2010 

quarter were held for an average of almost 

6.9 years before resale. 

• Statistics provided by the RTA suggest that 

apartment rents within the Inner West have 

stabilised during the March 2010 quarter. A 

one bedroom apartment within the Inner 

West still sits at a median weekly rent of 

$260 whilst a two bedroom apartment saw 

median rents of $370 per week. 

• Examples of asking rents within the 

Inner West have been established. A one 

bedroom apartment within Milton Edge is 

seeking a tenant at $410 per week. On the 

other hand, much newer product within 

Coronation Residences is asking for a 

tenant for a three bedroom residence at 



• No new development applications were 

lodged for the Inner West during the June 

2010 quarter. 

• The Milton was given development approval 

providing car parks were reduced. 

• Most projects planned for the Inner West 

precinct are currently deferred or are 

quietly seeking adaptation so that they can 

enter the supply constrained precinct. 

BRIEFLY... 




2010 quarter 





Less than $300,000 25 20 12 5 7 

$300,000 to $399,999 81 45 48 46 34 

$400,000 to $499,999 52 50 35 43 43 

$500,000 to $599,999 18 11 17 17 12 

$600,000 to $699,999 10 12 11 12 11 

$700,000 to $799,999 7 3 8 6 5 

$800,000 to $899,999 1 3 2 4 3 

At least $900,000 2 4 2 8 2 

Grand Total 196 148 135 141 117 


➤ The end of the June 

2010 sees only 28 new 

apartments available 

for sale 

➤ All apartments 

which remain for 

sale are within 

Pulse Apartments 


Pulse Roma St Awaiting Construction 46 18 7 28 

Summary - 1 project 46 18 7 28 



21-27 Manning St Development Application 127 (1,2,3 Beds) 

22-36 Railway Terrace Development Approval/Deferred 100 (1,2,3 Beds) 

36-46 High Street Development Approval/Deferred 119 (1,2,3,4 Beds) 

39-48 Brisbane St Deferred 33 (2 Beds) 

Milton Railway Terrace Development Approval/Deferred 213 (1,2,3,4 Beds) 

The Studio Development Approval 71 (2 Beds) 

29-31 Manning St Deferred 8 

33-35 Manning St Development Application 28 (1,2,3 Beds) 


Total 

Units 

Sold to 

Date 



Milton Edge 1 1 1 No $410 

Precinct Toowong 2 2 1 Yes $530 

Regatta Riverside 2 2 1 Yes $560 

Elysees 2 2 1 Yes $600 

Riverbend Tower 2 2 1 No $680 

Iceworks 2 2 1 Yes $760 

Coronation Residences 2 2 1 No $780 

Elysees 3 2 1 Yes $750 

Coronation Residences 3 2 1 No $850 

Linear 3 2 2 No $730 

Precinct Toowong 2 2 1 Yes $540 



market registered 

a median price of 

$439,000 

Sold 

June 

QTR 

Available 

for Sale 


Middle Ring 

Size Matters 

Middle North Precinct 

Strong Results 

BRIEFLY... 

BRIEFLY... 

➤ The June 2010 quarter 

finished with 446 new 

apartments available for 

sale within the middle ring 

➤ 124 unconditional 

sales were made 

during the period 

➤ The weighted average sales 

price of new apartments in the 

middle ring for the quarter 

was $525,524 


resold units in Middle 

Brisbane was $390,000 

➤ The Middle North outperformed 

all Brisbane precincts, recording 

108 unconditional apartment 

sales 


price for a new 

apartment in this 

precinct was $488,889 

➤ 259 apartments 



Inner North 


units within the general 

apartment market was 

$376,000 


Brisbane’s Middle Ring has recognised a 

period of softening for many of the Middle 

Ring projects during the three month period 

closing the 2010 financial year, however 

the unconditional sales recognised in PCN 

Project’s Alderley Square has propped up the 

sales for the quarter. The three month period 

to June 2010 saw a total of 124 unconditional 

sales recognised during the period. When 

compared to the March quarter prior 

this is a strengthening of 68%, equating to 

approximately 50 more apartment sales than 

the prior period. 

In terms of weighted average price for the 

Middle Ring during the most recent three 

month period to June, a figure of $525,524 

was realised. This equates to an 8% softening 

from the March quarter prior to realise a 

more reasonable weighted average price for 

the Middle Ring. 

Alderley Square reported for the first time 

during the June 2010 quarter and easily 

outperformed all other Middle Ring projects 

during the three month period. The project 

spans 234 apartments and is easily the largest 

residential project in the precinct. A total of 

75 unconditional sales were registered by the 

PCN project. Other strong performers were 

Newmarket Green and Madison Green, both 

of which registered 12 sales. 

Of the 124 recorded unconditional sales, 

the overwhelming majority of transactions 

occurred in two bedroom configurations. 

Over 55% of the stock sold during the quarter 

transacted in two bedroom apartments during 

the period. A further 34% of sales were one 

bedroom sales and the remaining transactions 

were three bedroom configurations. 

A total of 446 new developer apartments 

remained for sale as at the 30th of June 2010 

within Brisbane’s Middle Ring. Reflective 

of the sales being achieved within recent 

quarters, the overwhelming majority of this 

stock remains in two bedroom configurations 

totalling 46%. One bedroom apartments 

were the next prominent apartment stock 

remaining with 32% of the 446 available 

apartments whilst three bedroom stock 

totalled a further 20% of apartments. 

Considering the general real estate market 

within the Middle Ring precinct as a whole, 

the most recent settled sales for the existing 

market registered a median price of $390,000. 

This is a figure only 1% above the prior 

quarter and 3% above the same period in 

2009, suggesting that the precinct has found 

a relatively stable point in the current market. 

A total of 550 settled apartment transactions 

were totalled for the entire Middle Ring during 

the March period, a softening of sales rates 

given recent prior quarters. 

For those Middle Ring apartment owners 

who sold their apartment during the 

March quarter 2010, an average annual 

capital growth of 6.7% was realised. On 

average these apartments were held for 

approximately 6.5 years before resale. 

Given that a number of price pointed projects 

have been released to the market and that the 

market is actively seeking this stock, Colliers 

International Research expect growth from 

the June 2010 figures through the back half of 

2010. Risk does however remain. The impacts 

of the Federal election, possible interest 

rate rises and a market sentiment which is 

uncertain and volatile may see buyers take 

their time and do their homework before 

committing to sale. Those projects which can 

provide a point of difference will recognise 

unconditional sales. 

Added to this fact is that the development 

restrictions governing densification generally 

force smaller scale density to be designed and 

delivered to the Middle Ring. Projects which 

are more likely to succeed in today’s market 

given continued lending restrictions as they 

have less density and are therefore able to 

meet financial constraints in more reasonable 

timeframes. Price however will be the biggest 

driver of success. Middle Ring projects must be 

able to provide slightly larger apartments at an 

equal or lower price point. 

Apartments in the Middle Ring must recognise 

that competition exists in a wider market 

than those in the immediate surrounds. The 

Inner Ring projects are direct competition 

and therefore Middle Ring apartments must 

be competitive in price and provide a better 

end value for the consumer. Demographics of 

the local area must be understood in depth 

appealing directly to the surrounding market 

as an owner occupier or if an investment 

grade product the project must provide the 

returns expected in the short term and the 

potential for growth in the longer term. 


The Middle North precinct saw a 

strengthening in the number of unconditional 

sales recorded during the March quarter 2010. 

A total of 108 unconditional sales 

were registered over the seven projects 

currently being actively marketed within the 

precinct, a figure more than twice the March 

quarter prior. 

A weighted average figure of $488,889 was 

recorded across these 108 unconditional 

transactions, a figure 4% above the March 

quarter prior, and very competitive with the 

local existing real estate market. 

Alderley Square reported unconditional sales 

for the first time during the June 2010 quarter 

and easily transacted the highest percentage 

of sales within the Middle Ring during the 

period. A total of 75 unconditional sales were 

registered by the PCN project. This brings the 

project to almost 50% sold after one quarter 

of reporting. 




quarter, the majority of sales transacted within 

two bedroom configurations, totalling 56% of 

the sales. One bedroom apartments saw 40% 

of the unconditional sales which transacted. 

Of stock which remains for sale, 259 

apartments, the apartments are reasonably 

evenly split between one and two bedroom 

variations which hold 45% of the apartments 

and 48% of the apartments respectively. 

Limited three bedroom apartments remain for 

sale in the precinct. 


• The precinct recorded a softening in settled 

sales during the March 2010 quarter to 

register 215 sales, a figure 8% less than the 

December quarter prior. 


the Middle North during the three month 

period to March 2010 was $376,000, a 2% 

increase from the $360,125 median price 

registered during the March 2009 quarter 

twelve months prior. 


Madison Green Nundah Under Construction 45 39 12 6 87% 

Equinox Chermside Under Construction 60 59 1 1 98% 

Focus Chermside Under Construction 79 51 0 28 65% 

The Edge Chermside Awaiting Construction 74 42 7 32 57% 

C1 Chermside Awaiting Construction 65 33 1 32 51% 

New Market Garden New Market Awaiting Construction 35 34 12 1 97% 

Alderly Square Alderly Awaiting Construction 234 75 75 159 32% 

Summary - 7 projects 592 322 108 259 56% 



Stafford Sustainable Living Development Application 80 

The Firestation Development Application 212 

22 Morris st Development Application 272 

75 Kittyhawk Drive Development Approved/Deferred 474 

3-9 Union St Development Application 53 

19-25 Union St Development Application 53 

1943-1961 Gympie Rd Development Approval 114 


Total 

Units 

• The majority of sales transacted within the 

$300,000 to $399,999 price point, which 

saw 57% of sales for the quarter. This 

was closely followed by the $400,000 to 

$499,999 price point which totalled 23% of 

the December quarter transactions. 

• Colliers International Research performed 

a resale analysis upon the Middle North 

precinct in order to measure capital growth 

achieved upon the apartments which were 

resold into the market during the March 

quarter 2010. Resold apartments recorded 

an average annual capital growth of 8.8% to 

March 2010. These properties were held for 

an average of 6.8 years. 


• Large scale development does remains 

centred on precincts such as Chermside 

and Nundah. 

• Province Living at Chermside has entered 

the market and is expected to record sales 

in the next quarter. 

Sold to 

Date 

Sold 

June 

QTR 

Available 

for Sale 

% Sold 


Middle South Precinct 

High Weighted Average, Low Unconditional Sales 

Middle East Precinct 

No Change 

BRIEFLY... 

BRIEFLY... 

➤ 6 unconditional sales 

were recorded within 

the Middle South 

precinct 


price of a new apartment 

for the quarter was 

$1,083,333 


remain available for 

sale at the end of the 

December 2010 quarter 

➤ The median price for 

general apartments within 

Brisbane’s Middle South 

was $375,500 

➤ Zero new unconditional 


during the December 

2010 quarter 

➤ There a number of new 

projects due for launch 

into the market in 

coming months 

➤ 26 units remain 

available for sale within 

Brisbane’s Middle East 

precinct 


market registered a 

median price of $429,000 


Brisbane’s Middle South apartment market 

saw a total of 6 unconditional sales transact 

through the three month period to June 2010, 

a figure more than half the number recorded 

during the March quarter prior. A weighted 

average figure of $1,083,333 was recorded. 

Once again, the Inner South was the highest 

weighted average of all Middle Ring precincts, 

weighted by the sales recorded within Mirvac’s 

Farringford Apartments which are high end 

riverfront properties. 

Mirvac’s Farringford Apartments was again 

the performing project during the quarter 

registering total of 4 unconditional sales during 

the period. Parklands at Sherwood recorded 

a further two sales during the quarter to total 

the six transactions. 

Recorded unconditional sales within the Middle 

South were spread over one, two bedroom 

stock. Two bedroom configurations registered 

the majority at 82% of the quarter’s sales 

whilst two and three bedroom apartments saw 

25% of the unconditional transactions. 

A total of 101 apartments remain for sale 

within the Middle South over three separate 

projects, the majority of which exists as 

three bedroom stock. An overwhelming 

64% of the available stock is in three 

bedroom configurations whilst two bedroom 

apartments total a further 28%. 


• The Middle South recorded a strengthening 

median price during the March 2010 quarter. 

The past twelve months have seen a median 

price growth of 14%, the strongest of all 

Middle Ring precincts. A median of $375,500. 

• Analysis of the settled sales during the 

March quarter 2010 registered the majority 

of sales within the $300,000 to $399,999 

price point of 38%. 

• The precinct recognised a decrease in the 

number of settled sales to March 2010. A 

total of 116 settled apartment sales were 

reported, approximately 50 less than the 

162 sales recorded during the December 

2010 quarter previously. 

• Capital growth was measured on properties 

which were resold into the Middle South 

apartment market during the March quarter 

2010. Resold apartments recorded an 

average annual capital growth of 8.5%. These 

properties were held for an average of 7 

years before being resold into the market. 


• There was little movement in the planned 

apartment market through the June 

2010 quarter. 

• Many projects remain in the approval 

process awaiting council approval. Others 

are pending market conditions before the 

sales process is undertaken. There have been 

some smaller projects enter the DA process 

and look to enter the market. 


The Middle East precinct saw zero 

unconditional sales during the three month 

period to June 2010. 

Only two projects remained for sale in the 

precinct as at the close of the June quarter, 

leaving only 26 new developer apartments 

available for sale at the end of the financial 

year. Both projects and all apartments are in 

Australand’s Solito precinct at Carindale. 

Colliers International Research do however 

recognise that future projects are currently 

entering the market and are expected to 

recognise unconditional sales in coming 

periods, suggesting the Inner East will see 

a substantial increase in sales. Three of the 

larger projects include Tranquillity Residences, 

Pinetrees and Axis are all projects located in 

Mt Gravatt. Anthony John Group also looks to 

move forward with their proposed project at 

Cannon Hill in the near future. 

Only 26 new off-plan apartments remain for 

sale in the Middle East, the majority of which, 

85%, is in three bedroom configurations. It 

can be reliably argued that the Middle East, 

given recent sales rates in one and two 

bedroom stock, is demanding this product 

particularly in one and two bedroom 

configurations. 

Brisbane’s Middle East has the potential to 

outperform all other Middle Ring precincts 

in coming years. Projects are forthcoming in 

these regions as density is ever increasing and 

becoming accepted in this area. 



the Middle East during the three month 

period to March 2010 was $429,000 

suggesting there has been a slight 

strengthening in the median through the 

most recent period, again recording the 

highest median price amongst the Brisbane 

Middle Ring precincts. 

• The precinct also recorded a tightening in 

the number of sales registered during the 

March 2010 quarter. A total of 92 settled 

apartment transactions were recorded for 

the three months to March 2010, a figure 

39 below the three month period prior. 

• The majority of sales transacted within 

the Middle East precinct during the March 

2010 quarter were within the $300,000 to 

$399,999 and the $400,000 to $499,999 

price point at 34% and 37% of the sales 

respectively for the quarter. 

• A resale analysis was undertaken in order 

to derive the capital growth registered 

by properties which were resold into the 

Middle East apartment market during the 

March 2010 quarter. Resold Middle East 

apartments recorded an average annual 

capital growth of 7.4% for the most recent 

quarter. These properties were held for an 

average of 6 years. 


• The southern corridor looks to be a 

significant development corridor into 

the future. Mount Gravatt, Upper Mount 

Gravatt and Mount Gravatt East look 

to provide the majority of apartment 

development into the future. There are also 

significant projects through the Cannon Hill 



Total 

Units 

Sold to 

Date 

Sold June 

QTR 

Available 

for Sale 



Total 

Units 

Sold to 

Date 

Sold June 

QTR 

Available 

for Sale 

Farringford - Tennyson Reach Tennyson Under Construction 92 49 4 43 

Solito - Central Tower Carindale Under Construction 36 27 0 9 

Cargo Apartments Coopers Plains Awaiting Construction 54 22 0 32 

Parklands at Sherwood Sherwood Under Construction 82 56 2 26 


Solito - South Tower Carindale Under Construction 30 13 0 17 








1512 Boundary Rd Development Approved/Deferred 59 

122 Klumpp Rd Development Application 34 

190-198 Padstow Rd Development Application 38 

1437 Logan Road Development Application 116 

428 & 429 Blunder Rd Development Approval 195 

26 Bendena Tce Development Application 86 

52-58 Chipley St Development Application 98 

42-46 Sanders St Development Application 57 

1537 Beenleigh Rd Development Application 62 

582 Manly Rd Development Approval 62 

64-78 Ormskirk St Development Application 40 

81-85 Lawson St Development Application 72 

92-96 Illaweena St Development Approval 47 

Tranquility Residences Development Approval 55 

3-7 Grout St Macgregor Development Application 43 


18 Brisbane Apartment Report June Quarter 2010 Prepared by Colliers International Research Source: BCI Australia, BCC 

19

Middle West Precinct 

Limited Availability 

Special Report 

“Identifying the Future Growth Precincts of Brisbane” 

BRIEFLY... 


sales transacted 


2010 quarter 


The Middle West saw 10 unconditional sales 

transact during the three months to June 

2010, a figure slightly above the ten sales 

reported during the March quarter prior yet 

directly in line with the ten sales recorded 

twelve months prior. The resulting weighted 

average price for the precinct was $586,500, 

a figure almost $100,000 above the June 

quarter 2009. When directly compared to 

the period prior only a 1% difference in 

weighted average price is recognised. 

The top performing project within the Inner 

West for the March 2010 quarter was again 

Verve Apartments at The Gap. The project 

to be developed by the Exelsior Group saw 

a further seven unconditional transactions 

for the most recent period to June 2010. 

Three further transactions were recorded 

within Pavillion in Botanic, a project by the 

Semilan Group. 

The recorded transactions were evenly 

spread over two and three bedroom 

apartments during the period. Both two 

bedroom and three bedroom configurations 



➤ The weighted average price of a 

new apartment within Brisbane’s 

Middle West was $586,500 for 

the June 2010 quarter 

saw five unconditional sales a piece for the 

period ending March 2010. 

The stock which remains for sale in the 

Middle West is dominated by two bedroom 

apartments totalling 67% of the available 

apartments. Three bedroom apartments total 

27% of the remaining 60 apartments. Limited 

one bedroom apartments remain for sale 

suggesting that these variations continue to 

be undersupplied in the market and therefore 

a possible pent up demand may exist for this 

type of residence. 


• The Middle West precinct saw a reasonable 

strengthening in median price during the 

March 2010 quarter to record a median 

price of $407,500, a figure only $2,500 

below the December quarter prior. 

• Further to this, the precinct recognised a 

strengthening sales rate, registering 127 

settled sales for the quarter. This is an 

increase of 20% equating to 21 transactions. 

• Analysis of the price points in which the 

settled sales occurred shows that the 


➤ The end of the June 

2010 sees only 60 new 

apartments available 

for sale 

Verve Apts - Stage 1 The Gap Awaiting Construction 44 22 7 22 50% 

Pavillion in Botanic Gaythorne Under Construction 23 20 3 3 87% 

El Dorado Village Indooroopilly Awaiting Construction 100 65 0 35 65% 

Summary - 3 Projects 167 107 10 60 64% 


Total 

Units 

Sold 

to 

Date 


105-115 Coonan St Indooroopilly Deferred 67 

181 Clarence Rd Development Application 138 

Everton Park Urban Village Deferred 420 

Ashgrove Golf Club Development Application/Deferred 105 

Bardon Centre Development Approved/Deferred 104 

Blackwood Street Village Centre Development Approval 31 

17 Marshall Lane Development Application 21 


market registered 

a median price of 

$407,500 

overwhelming majority of transactions 

again fell in the $300,000 to $399,999 price 

bracket. 43% of the region’s total sales for 

the period transacted within this price 

point closely followed by the $400,000 to 

$499,999 price point which saw 34% of the 

settled stock. 

• Capital growth was measured on properties 

which were resold into the Middle West 

apartment market during the March 2010 

quarter. Resold apartments recorded an 

average annual capital growth of 8.2% to 

March 2010. These properties were held for 

an average of 7.1 years before being resold 

into the market. 


• Many projects have been deferred pending 

market conditions however, there remains 

potential for some larger projects to enter 

the market to satisfy residential demand. 

• The Middle West, an area of great 

development potential is set to recognise 

substantial residential development into 

the future. 

Sold 

June 

QTR 

Available 

for Sale 

% 

Sold 

The implementation of new infrastructure 

upgrades will allow Brisbane to further 

integrate its suburbs and provide both 

employment nodes and efficient transport 

nodes for Brisbane city’s residents. The 

result will be future growth for those inner 

city regions which can promote strong 

infrastructure access. Those suburbs that 

benefit from the council upgrades will 

recognise greater growth into the future. 

South-East Queensland Infrastructure Plan 

and Program 2009 – 2026 will manage the 

extreme growth of the Brisbane region. The 

2009 edition of the plan identifies $124 billion 

in estimated infrastructure investment which is 

expected to create up to 900,000 jobs in the 

region through 2026. 

Recently completed 

Infrastructure Initiatives: 

Clem 7 

The Clem 7 is an integral component of 

the BCC’s TransApex plan. The project will 

encompass 2 x 2 lane 5.7 kilometre tunnel will 

connect the South East freeway, Ipswich Road, 

Bowen Bridge Road and Inner City Bypass. The 

tunnel runs below the Brisbane River avoiding 

24 sets of traffic lights allowing for faster 

transport between point A and B for Inner 

City residents. 

• $2.1 billion project (est.); Completed 

March 2010. 

Go-Between Bridge 

The Go Between Bridge is an initiative of the 

Brisbane City Council to link South Brisbane 

to the ICB, Milton Road and Coronation 

Drive. The bridge is predicted to cater for 30 

per cent of cross river traffic via its four lane 

toll bridge as well as pedestrians and cyclists 

seeking the cross river journey. 

• $241 million project (est.); Expected 

completion July 2010 

CityGlider 

The CityGlider, a $4.5 million mass transit bus 

service aims to provide a dedicated, reliable 

and accessible public transport system linking 

West End and Newstead. The proposed 

bus service will operate on high frequency 

timetables departing every 10 – 15 minutes, 

18 hours a day (Sunday to Thursday) and will 

become Brisbane’s first 24 hour service on 

Friday and Saturdays. 

Chinatown Mall 

Redevelopment 

The recently completed Chinatown Mall 

has been the product of an $8 million 

Brisbane City Council upgrade, revamping 

the deteriorated precinct into an alternative 

location for retail amenity outside of the 

Brisbane CBD. The Chinatown Mall now 

encompasses three distinct terraced zones 

one of which is dedicated to events and 

dining alone. 

Kurilpa Footbridge 

The Kurilpa Footbridge, completed in late 

2009, links the CBD North Quay precinct to 

the cultural South Bank region. The bridge will 

be constructed to cater for both pedestrians 

and cyclists and is expected to be used by 

approximately 53,000 people per week. 

• $65 million project (est) 

Infrastructure Initiatives in progress: 

Northern Busway 

The construction of the Northern Busway will 

establish a link between the Inner Northern 

Busway and the Airport Link which is currently 

under construction. The project will provide 

public transport nodes from the northern 

suburbs to the CBD. 


completion 2012 

Northern Link Tunnel 

The two parallel tolled tunnels will connect 

the western freeway at Toowong to the Inner 

City Bypass at Herston. A part of the Council’s 

TransApex plan, the Northern Link will span 

a distance of 5.5 kilometres, 4.7 kilometres 

of which will be underground and reduce 

congestion on current cross city nodes. 

• $1.6 billion project (est.); Expected 


Airport Link 

The Airport Link will more efficiently connect 

Brisbane’s northern suburbs to the airport. 

The preferred corridor will be to follow 

Lutwyche Road at Bowen Hills and connect 

to the East-West arterial at Toombul with 

provisions to link the Northern Busway in the 

future, providing shorter travelling times for 

northern residents. 

• $3.4 billion project (est.); Expected 


Eastern Busway 

The Eastern Busway has been proposed 

to link the Boggo Road Busway at 

Woolloongabba and the South East Busway 

at Buranda to Main Avenue at Capalaba. This 

new busway is expected to halve current 

travel times from Brisbane’s eastern corridor. 



Mater Hospital – Translation 

Research Institute and 

Queensland Children’s 

Hospital (QCH) 

Mater Hospital Refurbishment and Medical 

Research Facility – Six storey building 

which will attract up to 650 new well paid 

employees. Construction is underway on the 

$1.1 billion Queensland Children’s Hospital 

which is expected to be relocated to by Mater 

facility after practical completion in 2014. 

Western Brisbane Transport 

Network Investigation 

Currently undergoing a feasibility study, 

Brisbane’s western districts infrastructure 

is presently being investigated for potential 

upgrades to the existing infrastructure 

networks. Included in this investigation is 

the Ipswich Motorway upgrade and links to 

the Centenary Motorway, Logan Road and 

Progress Road interchanges. 

• $17 million has been confirmed; However 

the Ipswich Motorway upgrade is expected 

to total $2 billion 

• Feasibility studies; Expected completion is 

upwards of 2012 

For more information please 

contact the Colliers International 

Research department on 

(07) 3026 3352 

28 Mt Nebo Rd Development Application 26 



Research & Consultancy 

RESEARCH 

Colliers International’s Residential Research division provides reliable, unbiased, and authoritative property research and consultancy to clients in metro 

and regional locations across Australia. 

Our extensive research capability and specialised approach ensures our clients can make the most informed and financially sounds decisions about 

residential properties. 

OUR SERVICES 

We have the ability and systems to monitor market movements, demographic changes and property trends. We use our knowledge of market sizes, price 

structure and buyer profiles to identify opportunities for clients and provide market knowledge that is unbiased, thorough and reliable. 

Our services include: 

• Advisory and Consultancy 

• Market Analysis including Profiling and Trends 

• Primary qualitative and quantitative research 

• Demographic and Target Market Analysis 

• Geographic information mapping 

• Project Analysis including product and pricing recommendations 

• Rental and investment return analysis 

• Competitive project activity analysis 

• Economic indicators 

• Social research, including focus groups 

We set industry benchmarks when partnering with our clients to answer key questions and solve complex issues in the residential development arena. 

CONSULTANCY AND VALUE ADDING 

Our specialised consultancy service adds value to our clients' business by identifying the best means for gaining a competitive advantage. We have 

extensive experience in providing advice on virtually every type of residential property and the issues and considerations that surround them. 

We simplify your decision-making process by providing: 

• Primary and secondary market analysis 

• Product and pricing mix analysis and recommendation 

• Amenity analysis and recommendation 

• Target market analysis and consumer research 

• Marketing and launch strategies 

• GIS Mapping and spatial interpretation 

For more information on how we can assist you contact (07) 3026 3322 

GLOSSARY 

Mixed Use Development (MUD) 

Transit Oriented Development (TOD) 

Off-Plan Sale 

Detached Housing 

Semi Detached Housing 

Developer Stock 

Resale 

Quarter 

Median 

General Market 

CBD or City precinct 

Inner North precinct 

Inner South precinct 

Inner East precinct 

Inner West precinct 

Inner Brisbane 

Middle North 

Middle South 

Middle East 

Middle West 

Sources: Colliers International, RPData, BCI Australia, BCC, OESR, RTA, ABS 

The development of more than one land use on a single site or within a single building, 

where the uses co-exist in harmony (e.g. residential, retail, commercial, hotel, dining, etc). MUDs 

are generally walkable communities with all uses easily accessible to each other. 

Mixed use development which is designed around high quality, high frequency public 

transport. 

The sale of a dwelling before it has been built, using the building plan to identify the 

dwelling. 

A single, stand-alone house. 

Townhouse or terraced house which shares at least one wall with another dwelling. 

The original sale of a new dwelling by the developer, either off-plan or after construction is 

complete. 

Subsequent sales of a dwelling (after the initial sale by the developer to a buyer). 

A three month period ending in the month specified, i.e. the December 08 quarter 

includes the calendar months October, November and December 2008. 

The middle value of a number of observations arranged in order of magnitude. 

Settled sales including resales and new developer sales 

The suburb of Brisbane City 

An area encompassing Albion, Bowen Hills, Fortitude Valley, Hamilton, Herston, Kelvin Grove, 

New Farm, Newmarket, Newstead, Spring Hill, Wilston, Windsor 

An area encompassing Dutton Park, Fairfield, Greenslopes, Highgate Hill, South Bank, South 

Brisbane, West End, Woolloongabba 

An area encompassing Balmoral, Bulimba, Coorparoo, East Brisbane, Hawthorne, Kangaroo Point, 

Norman Park 

An area encompassing Milton, Auchenflower, Toowong, St, Lucia, Taringa, Indooroopilly 

The five precincts above 

Albany Creek, Alderley, Ascot, Aspley, Banyo, Boondall, Bridgeman Downs, Brisbane Airport, 

Carseldine, Chermside, Chermside West, Clayfield, Eagle Farm, Fitzgibbon, Geebung, Gordon 

Park, Grange, Hendra, Kedron, Lutwyche, Mcdowall, Northgate, Nudgee, Nundah, Pinkenba, 

Stafford, Stafford Heights, Taigum, Virginia, Wavell Heights, Wooloowin, Zillmere 

Acacia Ridge, Annerley, Archerfield, Chelmer, Coopers Plains, Corinda, 

Darra, Durack, Eight Mile Plains, Graceville, Jamboree Heights, Jindalee, Macgregor, Middle Park, 

Moorooka, Mount Ommaney, Nathan, Oxley, Robertson, Rocklea, Salisbury, Seventeen Mile 

Rocks, Sherwood, Sinnamon Park, Sumner, Sunnybank, Sunnybank Hills, Tarragindi, Tennyson, 

Westlake, Willawong, Yeerongpilly, Yeronga 

Belmont, Camp Hill, Cannon Hill, Carina, Carina Heights, Carindale, Chandler, Gumdale, 

Hemmant, Holland Park, Holland Park West, Lytton, Mackenzie, Manly West, Mansfield, 

Morningside, Mount Gravatt, Mount Gravatt East, Murarrie, Rochedale, Seven Hills, Tingalpa, 

Upper Mount Gravatt, Wakerley, Wishart, Wynnum, Wynnum West, Manly 

Arana Hills, Ashgrove, Bardon, Brookfield, Bunya, Chapel Hill, Enoggera, Everton Hills, Everton 

Park, Ferny Grove, Ferny Hills, Fig Tree Pocket, Gaythorne, Indooroopilly, Kenmore, Kenmore Hills, 

Keperra, Mitchelton, Mount Coot-Tha, Pinjarra Hills, Taringa, The Gap, Upper Kedron 

Prepared by 

Colliers International Research. 

Level 20, 345 Queen Street 

Brisbane Q 4000 

GPO Box 2750, Brisbane Q 4001 

P: (07) 3229 1223 

F: (07) 3166 0411 

For further details contact: 

Lachlan Walker 

Research Analyst | Brisbane Projects 

p. 0438 710 888 

e. Lachlan.Walker@Colliers.com 

22 

Brisbane Apartment Report

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