Brisbane off-the-plan sales plummet

Adam Smith 10 August 2016

house values downOff-the-plan apartment sales have nosedived in Brisbane.

Off-the-plan sales for apartments in Brisbane’s inner city have fallen 44% for the June quarter, hitting their lowest level since the December quarter of 2012, the Australian Financial Review has reported. According to a report by Place Projects, inner Brisbane saw 464 unconditional transactions during the June quarter, down from 828 in the March quarter and more than 1,200 in the December quarter.

“The result is clearly going to clean up the market. There have already been fewer apartments released and some projects have even been withdrawn,” Place Advisory director Lachlan Walker told the AFR.

Prices were down as well, with the weighted average of $586,315 per apartment 3% below the figure recorded for the March quarter.

Walker raised the concern that settlements could be at risk.

“I haven’t heard of any horror stories yet, but the loan-to-value rations have been tightened by the banks and there is some pressure on valuers now to be more conservative,” he said.

Off-the-plan apartment sales have been in the spotlight recently, following a CoreLogic report that theorised that an oversupply could put settlements at significant risk. More recently, economic forecaster BIS Shrapnel predicted that a “tsunami” of apartment supply could see multi-unit construction collapse.

More help from

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question