Market Shows Signs Of Life In Queensland

There has been healthy growth in the price of unit and townhouses across Queensland, according to the June quarter price report by the Real Estate Institute of Queensland.
The appeal of these types of units for first home buyers or investors can come from their affordability and often central location.

This growth in many areas is an optimistic sign given the overall nature of the real estate market.

REIQ CEO Anton Kardash says that this particular type of property is lifting up the real estate market.

"Given the affordability of units and townhouses, as well as their often more central locations, first-time buyers and investors often compete for this type of property which may be partly responsible for the increases in median prices we experienced over the period," he said.

With Townsville performing the third best in the state for unit/townhouse growth Townsville REIQ chairwoman Suella O'Donnell has told the local newspaper that the lifestyle the city offers is behind the improvement, and is hopeful that the focus on buying units or townhouses will alleviate the rental shortages.

"We do have a lot of people moving here because of how beautiful the region is, and that is always a positive sign for buyers, sellers and investors," she said.