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Brisbane set to be “the strongest residential market in Australia”

People & Companies / Latest News

Australia / Brisbane

Apr 15 2018

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Mosaic Property Group has spent $20 million on Brisbane land, including more than $5 million on sites at Indooroopilly and Upper Mount Gravatt, to build apartment towers worth $53 million. 

The group also bought sites at Peerless Avenue, Mermaid Beach and Duporth Avenue, Maroochydore, with the spending spree based on its believe that the next five years will Brisbane will become the country’s strongest residential market.  

Mosaic founder and managing director Brook Monahan said after years of staying away from the apartment sector, new research prompted a change of heart. 

“Any oversupply in Brisbane’s apartment sector is of inner-city investor stock, which is not Mosaic’s focus. And in any case, current predictions see this stock being absorbed by the market by late 2019,” he told The Australian. 

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