Unit and townhouse activity grows

QUEENSLAND units and townhouses have followed the positive lead of the house market, according to the latest Real Estate Institute of Queensland (REIQ) data.

The REIQ's December Queensland Market Monitor (QMM), released today, showed the numbers of unit and townhouse sales across the State continued the property market's upward trend compared to the year before.

The numbers of unit and townhouse sales increased 8.9 per cent in the December quarter 2012 compared to the same period in 2011.

>> Download the data and see for yourself

REIQ CEO Anton Kardash said the driving force behind the improving sales volumes was the southeast corner.

"Compared to the December quarter in 2011, the numbers of sales in Brisbane and the Gold and Sunshine coasts continues to trend upwards, which of course partly reflects the concentration of, and demand for, these types of properties in South East Queensland," he said.

"Also this quarter, there has been an increase in the numbers of affordable unit sales across the State, especially for properties priced between $250,000 and $350,000, as buyers take advantage of some attractively-priced properties.

"And Brisbane has posted its second quarter where the annual median price change has been in the positive, which is another sign that prices are heading in the right direction once more."

According to the QMM, the numbers of sales in Brisbane was up 16 per cent compared to the December quarter in 2011; sales on the Gold Coast were up 8 per cent; and on the Sunshine Coast, the sales numbers increased an impressive 23 per cent over the same periods.

"The median price of units and townhouses on the Sunshine Coast also increased 1.1 per cent to $328,500 over the quarter with Noosa Heads and Noosaville also both recording price growth," Mr Kardash said.

The Brisbane median unit price decreased 4 per cent to $389,000 over the quarter but posted an increase of 0.3 per cent over the year ending December. Over the period there was also a marked rise in the numbers of sales between $250,000 and $350,000 which reduced the overall median price.

"Inner Brisbane suburbs continue to do well with median prices in New Farm and South Brisbane all posting solid price growth," Mr Kardash said.

"Brisbane's middle ring suburbs have also recorded some good results with Mount Gravatt East edging up 6.6 per cent over the quarter and Morningside recording growth of 9.9 per cent."

Cairns recording median unit price growth of 5.5 per cent to $205,000 over the December quarter and also posted an increase in sales of 8 per cent compared to the same period in 2011.

"While there has been an increase in demand for units in the Cairns region, discounting has been partly responsible for this rise in interest as the area is still struggling with high body corporate and insurance levies following Cyclone Yasi more than two years ago," Mr Kardash said.

According to the QMM, Townsville posted median unit price growth of 10.3 per cent to $308,875 over the December quarter however this was partly due to the compositional change in sales over the period. That is, the numbers of sales in the $350,000 to $500,000 price range increased significantly over the quarter which pushed the overall median price up.

Topics:  housing market reiq townhouses units

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Brave boy uncovers man's cow sex, child sexual abuse

A beast in the main arena at the 2012 Ekka.

Police praise boy for testimony of man's abuse and sex with a cow

DPI puts Dolphin Marine Magic 'all but out of business'

A battle over seal enclosures at Dolphin Marine Magic threatens the facility's ability to stay open, Coffs Harbour MP Andrew Fraser warns.

DPI crackdown a threat to Dolphin Marine Magic, warns MP

Young hands ensure a strong future for Lismore

PARKING MAD: The new parking restrictions around the Lismore Base Hospital had not been popular.

A promise is a promise and Mayor happy to have followed through.

Local Partners

Why this actress wasn't embarrassed by nude photo leak

Leslie Jones source Bang

'If you wanna see Leslie Jones naked, just ask,' she said

Federal grant keeps NORPA telling our local stories

ANNOUNCEMENT: NORPA's Producer Marisa Snow, Artistic Director Julian Louis, General Manager Patrick Healy, Chair David Wolff, with Member for Page Kevin Hogan.

Arts company granted almost $400,00 over two years

Dad's Army comic genius Jim Perry dies

Jimmy Perry, the creator of Dad's Army.

Dad's Army series captured all that British people savour

Check out some fashions from the Coast festival

FASHION: Ocean Zen range.

Images from the Sunshine Coast Fashion Festival show what's hot

Australian Survivor's magician Matt out of tricks

Australian Survivor contestant Matt Tarrant.

SHOW'S power couple looks unstoppable in race to the finish.

Top floor teams take out The Block's terrace week

Kim and Chris pictured on their winning outdoor terrace in a scene from The Block.

RIVALS Kim and Chris and Julia and Sasha tie in final week of work.

Hinterland horse stud passed in for $8.25 million

UNREAL: This Maleny estate is incredible.

12-bedroom hinterland horse stud still available

Hit songwriter's Noosa mansion on market

SPECIAL PLACE: The Cintamani estate is going to tender, marketed by Tom Offermann Real Estate.

Is this Queensland's best property?

Kiwi siblings snap up Dotcom mansion for $32.5m

The new toy company owners of the Coatesville mansion want replace any controversy with positivity and fun. Photo / Barfoot and Thompson

The trio paid $32.5 million for the property in June

New $200 million development will create 580 jobs

Cassie And Josh with baby Alfie and daughter Andee. They have bought at new Lennox Head development Epiq.

Majority of new positions will be given to Northern Rivers locals

Cherrabah's mega resort plans axed

PLANS for a massive development at Cherrabah have been scrapped.

Dusit Thani finance crisis 'just a small hiccup'

ON TRACK: Springfield Land Chairman, Maha Sinnathamby, Ipswich Mayor Paul Pisasale, Developer Richard Turner and Springfield Land Deputy Chairman, Bob Sharpless, at the recent resort sod turning ceremony.

Property developer says project remains firmly on track