The Cost Of Units and Townhouses in Qld Are Rising

Homebuyers may be curious to know about the rise in the cost of units and townhouses in Queensland.

The Real Estate Institute of Queensland (REIQ) has released its June quarter median price report detailing how the cost of units and townhouses has increased throughout the state.

REIQ chief executive Anton Kardash said:"Given the affordability of units and townhouses, as well as their often more central locations, first-home 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."

There has been a reduction in the number of units and townhouse sales in the June quarter because some buyers were waiting for the return of the stamp duty concession on July 1, Mr Kardash said.

Despite the rising prices, the volume of unit and townhouse sales dropped by 15 per cent in the state in the same time period, he said.

He added that first home buyers and investors have not been affected by the stamp duty change so their market activity may have contributed to the price increase.

There has been a noticeable rise in the number of high-end unit sales in Brisbane's central city and in the suburbs on the edges of the city, which could be help to increase buyer confidence, he concluded.