The Milton Towers in the Market
FKP's The Milton has emerged as the fastest selling new apartment development in Brisbane.
The project recorded a third of all unconditional new high rise apartment sales during the last quarter, according to the latest Midwood Queensland Investment Report.
The Milton recorded 45 of the 133 high-rise sales reported across Brisbane City during the August quarter.
The report also found the availability of housing within a "reasonable travel time" to the city would become an issue for residents, developers and planners, with Brisbane the fastest growing state capital, recording a current population increase of 2 per cent per annum.
The report shows the population of Brisbane city is projected to increase to 1.4 million over the next 20 years, while metropolitan Brisbane is expected to reach 2.4 million during the same period. 360 Project Marketing sales manager Bryce O'Connor, who is marketing the $210 million The Milton development, said, as a result, projects in the inner-city and close to transport would continue to be in demand.
The Milton has posted a total of $66 million in sales to date with 112 of its 298 apartments sold.
One-bedroom apartments are priced from $387,000 and two-bedroom apartments from $598,000.
Construction of the 30-level mixeduse development, alongside Milton railway station, is scheduled to commence by mid-2012.
"Interest in The Milton continues to grow, with construction due to commence soon," Mr O'Connor said.
"We are also seeing growing confidence in the market generally and a feeling that now is the time to buy, particularly close to the CBD."
Mr O'Connor said buyers were also keen to take advantage of the Queensland $10,000 Building Boost, available before the end of January 2012 to those who purchased a property priced under $600,000