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Brisbane records 31pc jump in apartment sales

13 November 2009 Reporter

A 31 per cent jump in new apartment sales in inner Brisbane has coincided with a $70,000 median price increase, according to the latest research by Colliers International.

There were 273 new unit sales in the three months ending September 2007 - up from the June quarter's 209 sales.

The Colliers International Brisbane Apartment Report revealed the weighted average sale price was $636,190.

According to the report's author, Colliers International research analyst Lachlan Walker, Brisbane has been jolted back to life.

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“More than $170 million has changed hands in new residential apartment deals in Brisbane in recent months,” he said.

Mr Walker said Hamilton Harbour outperformed its competition in Brisbane.

“A total of 91 unconditional sales were registered for the Hamilton based project, totalling 33 per cent of the quarter’s sales,” he said.

In the CBD 34 apartments were sold, more than double the 16 sold during the previous quarter,for a median price of $702,353.

Ben Langfield, director of residential project marketing at Colliers International, said enquiry for apartments had increased.

“Momentum is above expectations and should continue into 2010,” he said.

Brisbane records 31pc jump in apartment sales
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