Brisbane apartments show an impressive jump

The price of a new apartment in Brisbane has jumped by an impressive 23 per cent in three months.

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The new research by Colliers International reveals only 51 apartments remain for sale in the CBD with no new buildings due to be finished until at least 2010.

The Brisbane Unit Report shows sales activity has dropped 69 per cent in three months caused by a low level of available units.

"This is one of the lowest supply levels on record - There's very little available," said report author Alison Timchur.

The average price of new units sold reached $894,000, the highest on record and a 23 per cent jump above last quarter. There were 24 projects selling new apartments in the Inner Brisbane market during the quarter.

"There are less than 40 new apartments at under $1 million remaining for sale in the CBD," said Ms Timchur.

In the three months from January to March 944 inner Brisbane units sold including new sales and resales.

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