Property developers follow Sydney buyers to Brisbane


Source: Financial Review

Apartment developers from Sydney and Melbourne are heading to Queensland following buyers who have been priced out of the southern cities and want to capture value in Brisbane and the Gold Coast.

Half a dozen developers have purchased more than $100 million worth of development sites in the last few months with close to $1 billion worth of apartments planned.

They are aiming to meet the demands of an increasing number of buyers from Sydney and Melbourne keen on entering the Brisbane market which now has the highest yields for apartments in the country at 5.3 per cent according to Core Logic RP Data.

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