VALUE WITH CITY VIEWS
A small margin between rent costs and mortgage repayments propelled this firsthome buyer into purchasing a one-bedroom apartment in East Brisbane.
Eric Pizzani, 28, bought a one-bedroom, one-bathroom, one car space apartment with stunning city views in The Wellington in East Brisbane and he can’t wait to move in.
“I used to rent a small one-bedroom apartment in Annerley before my boss pointed out my rent was a similar amount to his mortgage repayments.” Mr Pizzani said.
“It was at that point I started looking into purchasing my first property.” Mr Pizzani knew what he wanted – an inner-city apartment surrounded by infrastructure so he could work or ride to work. “I was pleasantly surprised to discover that the apartments at The Wellington ticked all of the boxes while being great value for money,” he said. “With the help of the Queensland Government’s First Home Owner’s Grant and record low interest rates, I found myself able to afford a great one-bedroom apartment with a spacious balcony overlooking the city skyline and river.”
Mr Pizzani said being able to walk to cafes, restaurants and bars was a massive drawcard.
The Wellington is a $47 million project with 127 apartments, 75 per cent sold. It is due for completion in October. Apartment sales have been to local and interstate young professionals and mature buyers looking for a central location, cafe culture lifestyle and secure and spacious living environment.
Total Property Group managing director and marketing manager for The Wellington Adrian Parsons said strong sales of both one and two-bedroom apartments could be attributed to a broad range of buyers, as well as a growing trend in single person households.
“With single person households projected to grow on average 2.2 per cent per year, making them the fastest growing household type in Australia, our luxury one-bedroom apartments have experienced strong appeal,” he said.
The Wellington in East Brisbane has apartments with spacious balconies taking in city views, close to cafe precincts. Eric Pizzani (pictured) bought an apartment in The Wellington with the help of the First Home Owner’s Grant.