Buyers Targeting Units
There has been a noticeable shift in buyer preferences toward apartments and townhouses, according to new analysis by valuation firm Herron Todd White.
HTW Brisbane Managing Director, Gavin Hulcombe, says as the value gap widens between houses and units, buyers reach a point where they see good value in attached housing.
Hulcombe says it is a particular trend within major population centres where existing units are proving to be more affordable than new product.
“I see opportunities in unique, well-located units, whether CBD, city fringe or even a little further out, which offer an attractive space to live,” he says.
HTW’s latest Month in Review shows that demand for housing remains high, despite increasing cost-of-living pressures and higher interest rates.
And it predicts that this will continue while the imbalance between supply and demand remains throughout most markets.
“Demand for housing is extremely strong, fuelled in large part by population growth. This is coming up against limited supply caused by a lag in building approvals, a shortage of materials, scarcity of labour, and even builders being impacted by torrid financial conditions,” Hulcombe says.
