With the year almost at an end, it’s that time when we all stop to reflect on what has passed, before we move on into the future. This most certainly applies to the development and property industry, where we take the time to reflect on the market and where it may be heading in 2017. Experts from Colliers International in Brisbane and the Gold Coast have take the time to provide commentary on the South East Queensland capital market and metro markets to review the year-that-was and to provide a forecast for the coming new year.
Apartment living has become increasingly popular in the Brisbane market as more buyers seek an inner-city lifestyle of culture and convenience similar to what is offered in major European cities. In recent years apartment developments have become more prevalent than housing in Brisbane, accounting for 64 per cent of approved dwellings as of 2015.
James Street has been given a strong endorsement by retail leader David Jones, after plans were submitted to feature the country’s second boutique-format high end store, just months after the retail giant opened the first boutique-format store in Sydney’s Barangaroo in the CBD late last year.
Investment group Aquis Australia has unveiled plans for a new $440 million hotel on a prime beachfront position in Surfers Paradise that will become a benchmark for luxury accommodation in the Asia Pacific region and attract a new generation of well-heeled travellers to the Gold Coast.
The next chapter of the $2.9 billion regeneration of Brisbane’s RNA Showgrounds is underway with the construction of Kings Co-op, a mixed and adaptive re-use development designed by The Buchan Group.