End users home in on $270m Nundah precinct

Owner-occupiers are gravitating to Brisbane’s new apartment market in numbers not seen in some years, according to a leading project marketing identity.Lachlan Walker, from Place Projects, says the return of the end user market in Brisbane has seen the investor to owner-occupier ratio change from 80:20 to 60:40 in the past six months.He said the trend was underscored at Property Solutions’ Circa Dos at Nundah where the ratio is evenly split.“The return of the owner occupier market been the most notable change in the Brisbane apartment market in recent times and this is reflected at Nundah where a large portion of the current buyer profile is owner occupiers who are either intending to move in on settlement or rent until they downsize,” Mr Walker said.“The vibrant Nundah precinct is appealing to end users from a lifestyle perspective and is also seen as a high growth area with financial upside.“At the recently completed Circa Dos, for example, Property Solutions has delivered apartments that cater to the discerning end user – with large floor plans and a high level of fit and finish.“The development of the retail element as part of the Nundah Village masterplan has also been a drawcard for end user buyers.”Regina and Ian Brook, together with son Jack, 14, are among the wave of owner occupiers set to move into Circa Dos.The Brooks are downsizing from a family home in Everton Park to a two-bedroom, 101sqm apartment at Nundah and say the location and opportunity to simplify their living arrangements prompted the move.“We spent 14 years gradually renovating our family home but in the end we just wanted to free ourselves from being tied down to a large house and the maintenance that comes with it,” Mrs Brook said.“I lived in Nundah 20 years ago and didn’t see myself returning, but it’s undergone a complete metamorphosis and will be a great base for our family.“The village feel is unique, you don’t need to leave Nundah Village for day-to-day necessities.” Mrs Brook said the family looked at “hundreds” of apartments before settling on Circa Dos.“It had to be somewhere liveable and homely,” she said.“The kitchen is large and usable, the finishes and appliances are exactly what I would have chosen.“Another benefit of apartment living is that we can lock and leave when we go on holiday.”Apartment demand in Brisbane is at a record high and shows no signs of abating, according to a recent Place Advisory quarterly market report.The report says inner Brisbane has seen the highest ever levels of unconditional sales recorded in any single quarter, with 1083 sales in 57 projects.“Demand is continuing to outmatch current new inner city apartment supply,” says the report.Property Solutions is a market leader in urban renewal projects across Southeast Queensland and has a workbook of more than 150 completed projects throughout its 20 year history.The group is responsible for a number of Brisbane’s major mixed-use development projects, including the acclaimed Centro on James Street project, the $350 million SW1 development in South Brisbane and more recently The Barracks, a $150 million mixed use and entertainment precinct in Paddington.For more details on Circa Nundah go to circanundah.com.au.