Property

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.

LGBQTI* community takes part in marriage equality action

VOTING FOR CHANGE: Maude Boate will be at the the marriage equality action at Lismore City Hall.

Lismore calls for awareness on marriage equality

Woman felt 'dirty, ashamed' over partner's abuse

Lismore Court House. Photo Cathy Adams / The Northern Star

"I thought I was going to lose my life to this person"

Siege inquest: Police took too long to act after shooting

DAY THAT SHOCKED THE NATION: A panicked hostage runs to tactical response officers after escaping from the Lindt Cafe in Martin Place, Sydney.

The coroner is handing down his findings into the Lindt Cafe siege.

Local Partners

Ballina Shire Council will not back ski jump project

BALLINA Shire councillors announce they are not supportive of the DA lodged for a proposed Olympic facility at Lake Ainsworth.

First female superhero film in 12 years

AMAZON: Actress Gal Gadot in a scene from the film Wonder Woman.

Wonder Woman opens next Thursday

What to expect at Birds of Tokyo's Ipswich gig

The band will perform at the Racehorse Hotel on Friday.

BAND member Glen Sarangapany talks music, pub grub and doing shoeys

Pauly puts stereo back into stereotypes

PAULY: Paul Fenech is a comedian of Maltese and Aboriginal descent.

'A bourbon-fuelled bogan subwoofer bonanza of comedy.'

Dreamworld may supersize with 'Disneyland expansion'

OWNERS of icon Gold Coast theme park Dreamworld want to super-size the site with accommodation and entertainment to turn it into Australia’s Disneyland.

World’s strongest man reveals incredible 12,000 calorie diet

Brian Shaw won his 4th World's Strongest Man title. Source: Twitter

World’s strongest man reveals incredible 12,000-calorie diet

ABC2 slammed over football exhibition match coverage

Fans weren't too happy with ABC2's coverage of Wednesday night's game.

ABC2 slammed for coverage of soccer exhibition match

'Bulls--t!' Lisa Wilkinson grilled over Karl's pay packet

Join us for a Great Night as we Proudly present Lisa Wilkinson

“And you believe everything you read?”

Rebel Wilson trial: The secret we never could have known

Rebel Wilson outside court

“Most people wouldn’t know it exists,” she said.

Janet’s back in the ring

Marta Dusseldorp returns in season three of the TV series Janet King.

Season three of ABC's legal drama delves deeper than ever before.

Game of Thrones drops new trailer for season 7

Game of Thrones fans have been given a new trailer for season 7.

Fans are finally getting a full-throttled peak at season seven.

How Toowoomba house prices compare in Australia

For sale sign in front of home.

Here's what $700,000 will buy you in Toowoomba, Brisbane and Sydney

One of Maryborough's most historic homes is still for sale

FULL OF HISTORY: Trisha Moulds is owner of the historic Tinana state known as Rosehill. The beautiful home is currently for sale.

It has been the scene of both joy and tragedies over the years.

The face of the Sunshine Coast's overpriced rental crisis

Alyx Wilson had to rent a $385 unit in Currimundi because the market was too competitive for cheaper rental housing. She is now renting a room from friends who own a house in Currimundi, and says its much more affordable.

Young people feel the strain in competitive, expensive rental market

WATCH: Take a tour of a tradie's dream home

5a Bruce Hiskens Court, Norman Gardens, going for $720,000. INSET: Lea Taylor.

Huge block with potential for anything

Ready to SELL your property?

Post Your Ad Here!