The Courier-Mail - Home - - NEWS - BELINDA CHILTON

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.

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