a day ago
See the hidden shortcuts to winning the apartment race
At 25 years old, pharmacist Amelia Wootten managed to secure an apartment of her own – but with an increasingly competitive market and rising prices, it took a little help to get one she could afford.
Having moved back to Brisbane in 2024 after several years in Rockhampton, Ms Wootten said she was eager to find a home without the constant presence of housemates or family.
But when she started to look for apartments, she found she was competing with too many people to find an affordable home in an area close to her job.
'There was a super original place in Nundah, and that had, I reckon, 40 or 50 people going through it,' she said. 'It felt very disheartening, I think, for a young buyer to be looking at how many people were going through and going, 'I'm just not going to get anything'.'
Ms Wootten's search came as apartment price growth across Brisbane was found to vastly outpace that of houses, according to research from Nuestar and Hotspotting.
The research found 76.3 per cent of apartments across the city were showing stronger growth than houses over the 12 months preceding June.
'I think that with the rate going down and everything, it got a little bit more competitive,' Ms Wootten said. 'I think there's a lot more people looking for apartments rather than houses.'
'A lot of the [Rockhampton] houses were priced at what apartments would be here … what you're getting for 500k is a lot more, but obviously it's living in a regional area.'
Place New Farm agent Karen McBryde, who was able to find Ms Wootten a Stafford apartment off the plan, said she could see the gap between house and unit prices in the suburb 'already closing'.
'Amelia paid $500,000 for a one-bedroom unit,' she said. 'An entry level, very basic post-war house in the area is a minimum of about $900,000. So even just that comparison alone, it appears to me like a one-bedroom unit is fairly unaffordable still.'
'My biggest piece of advice would be to communicate with the agents that you're dealing with, so that you can find what options are available,' she said. 'When you make an inquiry, do include your phone and your email address in your inquiry. Make sure you're providing the agent the information to send you back any listings that they have.'
Ms Wootten said communicating with agents and family, and getting the chance for private opportunities, was what finally allowed her to get the unit she dreamt of having.
'It's helpful having people around you that have done it, or that know what they're doing,' she said.
