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Latest numbers provided by RP Data indicates that the annualised growth rate in Sydney and Melbourne now exceeds 13 per cent, while Brisbane prices have risen on average by just over 7 per cent.
With thousands of homebuyers looking to move into both the NSW and Victorian capitals, Brisbane looks to be heading to a housing crash, after realising the only people buying apartments in the city are cashed up people who work for the companies that build them.
This comes after the news that Queensland Deputy Premier Jackie Trad has decided allow a height increase at the controversial 22-storey West Village development on the site of the old Absoe furniture factory in South Brisbane.
“What we want to do is just build as many apartments as possible, so that people finally get the message that there is property available in Brisbane” Trad told The Betoota Advocate.
“Ignore the fact that they could probably pick up a three-bedroom Queenslander ten minutes out of the CBD for a smaller price. We want people to live in Skyscrapers like they do in the movies!”
Queensland Premier Annastacia Palaszczuk has also given comment.
“I’ve handed down instructions to my developer friends. Keep building ’em”
“But maybe steer towards some low-rises for the time being, take the heat off the high-rises. That’s what I’ve told ’em”
“To those of you who are a bit apprehensive about moving your family into a fifty square metre CBD apartment, I would say, don’t worry”
“We passed laws last year that are going to shut down the city’s loud and ugly nightclubs. We are getting heaps of cool new juice bars and 24 hour gyms”
“The Brown Snake is the new Dubai!”