Buyer confidence rising in capital city
Strong apartment sales in the Brisbane suburb of Teneriffe are indicating an increase in buyer confidence in the Queensland market.
Low interest rates coupled with the state government’s new $15,000 first home owner construction grant for new properties are factors driving a high amount of demand from buyers.
David Kortlang, sales manager at developer Devine’s DoubleOne 3 project, said the first home owner grant was a positive boost for the Brisbane market.
“The $15,000 grant is an enormous boost and opens up Brisbane’s inner city apartment market to a whole new generation of buyers,” he said.
"It has definitely sparked fresh interest for property in Teneriffe, with buyers recognizing this unique opportunity to buy into this tightly-held suburb.
"Demand for property in Teneriffe is very high and DoubleOne 3 offers an affordable alternative for buyers in today's current market."
The development has sold over 50 per cent of its apartments, a positive sign for buyer confidence in the area.