07 Feb Apartment living is on the rise – Courier Mail – Elizabeth Tilley

Eight in 10 home hunters would buy a new apartment over a house and land package, research reveals.

Despite recent oversupply fears and the risks of buying units off-the-plan, a realestate.com.au survey of buyers’ intentions has found 80 per cent are thinking about purchasing an apartment off-the-plan (OTP) – and a quarter of them would list it on Airbnb.

That compares with only 62 per cent of people who would consider buying a house and land. The survey of 10,000 people found more upsizers are looking to buy an OTP apartment and more than a third have a budget of $800,000.

The most in-demand suburbs for new apartments in Queensland are Kangaroo Point, Newstead and West End in Brisbane’s inner -city.

Realestate.com.au chief economist Neria Consibee said fears about over-development in Brisbane had passed, making apartment living attractive again.