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Demand for Brisbane apartments up

There is increasing demand for apartments in the Brisbane and Gold Coast areas.

There is increasing demand for apartments in the Brisbane and Gold Coast areas, according to the latest sales figures.

Colliers International reports a positive market as sales during the year to September 2013 showed an upturn in property transactions.

Brisbane saw a total of 2,300 sales, while Gold Coast purchases reached 700 due to the rise in local population, low interest rates and reduced vacancy rates.

Alex Beer, senior research analyst at Colliers International in Brisbane, explained there is a strong supply of apartments in the area and this should be met by growth in demand.

"Should favourable lending conditions and investor demand remain robust, the market may be able to absorb this supply over the next 12 months at the rate we have experienced in the previous few quarters," he explained.

Australia’s prime minister recently stressed the appeal that the country has to global investors and the need to ensure its benefits are promoted effectively overseas.

Posted by Craig Francis.

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