Snapshot: What are buyers demanding when it comes to apartments
Recent data from realestate.com.au shows that Queenslanders on the hunt for an apartment are not looking for a private library (3%) or even a private cinema (1%) when purchasing.
They are however, very interested in their own parking space with a whopping 77% reporting this as a desirable feature. Predictably, balconies (66%) ducted heating and cooling (50%) and high-speed Internet & TV (49%) are also qualities that ranked high on the priority list.
These findings are an interesting snapshot of the mindset of buyers in the market for a unit. This consumer research shows that Queenslander’s are not lured by mod cons; the preference is to acquire a self-contained space with room for entertaining. Outdoor entertainment spaces are desirable attribute for 42% of respondents, with 26% reporting landscaped gardens & BBQ’s are a ‘must have’ with swimming pools coming in at a close third of 23%.
Some of the suburbs that recorded the highest number of searches in Brisbane were Newstead, Kangaroo Point and the ever performing - Brisbane CBD. There is no surprise there, as inner–city abodes consistently attract more interest due to their premium locations.
NOTE
Top 10 Suburbs
- West End
- South Brisbane
- Broadbeach
- Newstead
- Southport
- Kangaroo Point
- Brisbane City
- Surfers Paradise
- Toowong
- Biggara Waters
Apartments priced in the competitive market of $450,000-$500,000 were highly sought after, with this price point attracting more than 540,000 views. Coming in second place were those in the $550,000-$600,000 bracket with 440,000 views, with the third spot being apartments within the $400,000-$450,000 price range with a total of 430,000 views.
Of course, number of bedrooms and bathrooms also featured prominently in the findings with two bedroom and two bathroom apartments attracting the highest percentage of searches. Queenslander’s have a keener interest in two bathroom apartments with 71% of searches reflecting this. The national average sits at 42% with only New South Wales sitting slightly above the average at 45%.
In short, if you are looking for an apartment in Queensland for investment purposes, ditch the media room and virtual golf range in favour of a car park, alfresco dining area and two bathrooms. These types of properties are more attractive to lease and sell.