Visionary planning has seen the Upper Mount Gravatt Precinct selected as a ‘Principal Regional Activity Centre’ (PRAC) under the South East Queensland Regional Plan 2009-2031.
Planners have foreseen the substantial growth evolving in Upper Mt Gravatt and have provided a balanced plan to accommodate the Precincts imminent need for residential and commercial expansion. Sky Gardens is perfectly positioned in the heart of the planned regional activity centre. Sky Gardens elevated position adjacent to Westfield Garden City shopping complex, makes it a prime location for potential substantial capital gains exceeding many alternative investment properties in Brisbane.
His five key indicators for Sky Gardens are all positive – limited stock for resale; rising sales volumes; rising local asking prices; rising local asking rents & underlying demand that exceeds current new dwelling supply.
- PROJECT. The right product at the right time. Designed for the core local apartment demographics and very well priced, averaging just under $5,000 per sqm gross.
- LOCATION. Amazing perfect walk score; great freeway access and the adjacent Westfield Garden City is undergoing a massive expansion.
- DEMOGRAPHICS. Two strong, relevant local demographic profiles when it comes to new apartments – single and couple households. There is a need for more new apartments in the local area.
- EMPLOYMENT. Close to 60,000 people work in 15,600 businesses within a ten minute drive, plus great freeway access allows residents to easily travel further to work, if needed.
- REAL ESTATE STATISTICS. Established resale market; high local median values; tight vacancy rate; with rents rising, reflecting increasing demand and very limited new supply.
- MARKET MOMENTUM. little for resale; sales volumes increasing; to, too, are asking rents and prices; plus the local area is undersupplied.
- UPSIDE. Brisbane’s residential market is in recovery and the Westfield Garden City expansion is to be complete in 2014. New infrastructure and improving local amenities greatly improve the prospect of average capital gains.
Michael Matusik is Queensland‘s most respected property advisor and has qualified Sky Gardens as his choice as a most “Highly rated property pick”.
Sky Gardens apartment mix; living spaces; general product direction; parking & basement storage options are all designed to cater for the local core apartment demographics.
– Michael Matusik