Owner-occupiers snap up bigger Brisbane units as investor numbers slip, research shows

A surge in purchases of three-plus bedroom apartments shows that unit owner occupiers were becoming more prominent in the inner Brisbane market as investor numbers fall away, a market analyst said..

Figures for the December quarter from Urbis indicated sales were slowing for one and two bedroom apartments in Brisbane, while sales for stock aimed at local buyers remained steady.

“They’ve gone from 8 per cent where they were last quarter to a proportion of 15 per cent of the market,” Urbis associate director Paul Riga said.

Mr Riga said investor involvement in the Brisbane market was slowing as less apartment stock aimed at investors was being made available, while the reverse was true for owner-occupiers.

“We’ve seen more of a release of that product in the most recent quarters and the local market is seeing that the supply is there and they’re ready to buy,” said Mr Riga.

As more locals make the move toward the inner city, Mr Riga expected the number of owner-occupiers to grow exponentially.

“For Brisbane, we’re expecting to see that owner occupier market grow in the coming quarters,” he said. “What you see when an owner occupier moves into a precinct their friends relatives and acquaintances will start doing similar things.”

Meanwhile on the Gold Coast, similar growth of the owner occupier market was occurring. Urbis director Matthew Schneider said the coast had moved beyond its reputation as a holiday spot for south east Queensland.

“The story of the Gold Coast is that it’s a youthful city that is maturing, and as families move there and learn that there’s more to the city that the tourist background and there’s jobs there for people … it will snowball,” Mr Schneider said.

“We really consider the Gold Coast market to be the most buoyant in the country”