Prime time for investors

BY BEN JOHNSON

LOW prices, low interest rates and less competition is fuelling a prime time for inner city investors, says a Brisbane investment specialist.

Grow Property Group director Darrin Leung said new and off-the-plan sales were nearly on a par with second-hand and existing property.

According to Resolution Research Strategists, off-the-plan apartments are 6.8 per cent more expensive than established property, the lowest level since 1989.

"To get business the developers are doing deals, especially off-the-plan, some developers are continuing with incentives or paying the difference for stamp duty," Mr Leung said. "When there is a high demand, developers won't do that anymore."

He said developments in areas close to the city were big investment hot spots, including suburbs like Fortitude Valley, Teneriffe, West End and Kelvin Grove.

Inner city investors Kathy and Chris Brown recently bought their third investment property at Teneriffe.

Mrs Brown said low interest rates and low demand made it a good time to buy.

"We prefer to buy new because there is depreciation you can claim," she said.

"Also something with car parks, close to public transport in locations with potential.

"She said it was important to consider the returns you would get from a property.