Unit and townhouse sales bonanza in Queensland

Unit and townhouse sales bonanza in Queensland

Posted on Friday, December 07 2012 at 1:03 PM

Sales of units and townhouses in Queensland soared by 40 per cent in the September quarter, according to analysis by the Real Estate Institute of Queensland (REIQ).

Activity in this segment of the market is
now up 14 per cent on the same period last year, REIQ chief executive Anton
Kardash says.

According to a report released by the group
today, there was significant activity at the cheaper end of the scale.

“More than 800 preliminary sales were
recorded for properties priced under $250,000, which is a very affordable price for many
buyers,” he says.

“The greatest numbers of sales were in the $250,000 to
$350,000 price bracket, which recorded about 1250 preliminary sales over the
quarter – also an increase on last year.”

There was a noticeable shift in demand for cheap
units and townhouses in Cairns and the Gold Coast over the September quarter,
with both regions enjoying significant jumps in transaction volumes for
properties under $250,000.

In Brisbane, the unit and townhouse median
price increased 0.6 per cent to $405,000.

“Brisbane’s median unit price edged up 0.3
per cent over the year, which is a welcome result and one we hadn’t witnessed
for a year or two now,” Kardash says.

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