he Wellington development in East Brisbane has cemented its appeal as a place with affordable, spacious living areas, attracting 21-year-old Thomas Bellew to open his property portfolio with the purchase of a one-bedroom apartment.
The young Chermside resident, looking to jump into the property market at a young age, noted the current economic conditions as an ideal opportunity to sign a deal.
“I always had an interest in property and wanted to get into the market as early as possible, to take advantage of the current record low interest rates and the Queensland First Home Owner’s Grant”, Mr Bellew says.
“My plan was to purchase a one-bedroom apartment in a high-demand suburb off the plan, allowing me to save more money while construction is being completed in the lead-up to settlement.”
While most 21-year-old’s would be as equally happy to move out of home, Mr Bellew is already looking forward to purchasing more property.
“I will move into the apartment as soon as the development is finished and my settlement is complete, then begin paying off the mortgage to build equity for a deposit on my next property”, he explains.
Marketing manager of The Wellington, and TOTAL Property Group Managing Director Mr Adrian Parsons, noted that a number of first home owners and investors were showing interest in the development.
“Brisbane’s property market is continuing to record healthy growth both in sales volumes ad median sales prices, particularly for multi-storey developments, with apartment living becoming increasingly popular”, Mr Parsons says.
“The Wellington is attracting diverse range of buyers due to its location, value and overall quality, with purchasers coming from the local and wider Brisbane market as well as Sydney.”
The Wellington is locatedon the corner of Wellignton Road and Overend Street, and features a variety of one bedroom and two bedroom apartments.
The development is just a short walk from the Gabba, plus a number of shops and restaurants.
Words by Matt Taylor
Images via The Wellington & Louise Carroll Marketing