IT IS a suburb with all the elements for growth – but so far the surge of new apartment activity in Brisbane’s inner south has been a slow trickle in Annerley.
Two new apartment projects are set to start construction in the first quarter of 2016, but reports by advisory firm Urbis found the suburb had a limited supply of new product.
The Annerley catchment (comprised of Annerley, Fairfield and Greenslopes) is part of the Inner South – Brisbane’s most active apartment market – yet only two of the region’s 49 projects monitored by Urbis in the September quarter of 2015 were recorded in the Annerley area.
An Urbis Outlook Annerley report found Annerley catchment had all three fundamentals that make a sustainable suburb – population, infrastructure and employment – and as an inner city area is a natural extension of Brisbane’s urban expansion.
It’s also an area with 53.8 per cent of the population choosing to rent, an increasing number of gen Y residents, and more than a third of residents employed as professionals.
Aspect on Ekibin is set to start construction in early 2016, with 25 one and two-bedroom apartments over three storeys.
Josh Pagotto from LJ Hooker Development Services is marketing the GW Construction project, and said Aspect, as well as the suburb, were a good fit for owner occupiers.
“The (retail) strip contains so many hidden gems … it is a nice up-and-coming area, and untouched. The growth hasn’t been there as yet, but it’s just starting to kick along, so a good time to invest,” he said.
“I think it’s going to stay that leafy sort of area. There are a lot of pre-war houses in there.”
Apartments at Aspect on Ekibin start from $339,000.
Source: Courier Mail
January 17th, 2016 3:30pm
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