Brisbane Developments Attracting Local Investors

  • Brisbane property buyers are increasingly purchasing locally, if figures from Mirvac’s Newstead-based Unison development are anything to go by. 

    Brisbane buyers represented the greatest portion of sales at the recent release, with 61 per cent of local purchasers living within three kilometres of Newstead. 

    Brisbane Lord Mayor, Graham Quirk, who today joined Mirvac for a sod-turning ceremony to launch the highly anticipated Unison development, said high-quality residences situated in emerging hotspots were helping boost interest from local home buyers. 

    “Over the last year Council has given the go ahead for nine significant developments in Newstead, which will see over 1,400 units in 10 towers pop-up in the suburb,” he said.

    “High-quality residential developments attract equally high-quality retailers and commercial operators, creating emerging pockets in Brisbane that provide the ease of city living coupled with a local community feel.

    “This is reflected in the high demand for real estate in the 4006 postcode, particularly by those who want to move home but don’t want to leave this thriving area.”

    The Lord Mayor added that in addition to attracting home buyers to the area, Unison’s construction would also yield benefits for the local economy. 

    “Commercially, the development will see more than 40 south east Queensland businesses engaged in the construction process providing a welcome boost to the local economy,” he said.

    Unison is the third stage of Mirvac’s premiere Waterfront precinct - which includes the Pier and Park Residencies – and marks the developer’s next residential construction project in Queensland. 

    The Waterfront development has delivered close to $420 million in sales to date, and includes Pier’s $14.25 million penthouse, 

    However, with one bedroom apartments priced from $375,000, Unison will meet the increasing demand for attainable, yet sophisticated, urban dwellings in one of Brisbane’s most sought after areas.

    Mirvac’s Group Executive, Residential, John Carfi, said Mirvac was delighted to be building again in Brisbane. 

    “Our return to south east Queensland marks an exciting time for Mirvac,” he said.

    “It has been a couple of years since the completion of our last apartment construction and we are pleased to see that demand for our high-quality yet affordable homes has not waned. 

    “We’ve seen an unprecedented level of interest in Unison since its launch, and the results of the public release reinforced just how popular the development is with those looking for the ease of city living coupled with a local community feel.”

    In fact, overwhelming demand for Unison’s stage one development, Unison South, has resulted in plans to launch the second stage, Unison North, to the public earlier than anticipated. 

    “All signs point to us needing to launch Unison North much earlier than we’d originally projected,” Mr Carfi said.

    “We’re looking at the public release happening this side of Christmas rather than mid-next year, which is great news for the business and demonstrates that we really have got it right with this development.”

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