Increased sales activity as unit and townhouse demand strengthens in Queensland: REIQ

Sales activity of units and townhouses in Queensland have increased over the past year, with Cairns, Gold Coast and the Sunshine Coast the strongest performers, according to the latest preliminary report by REIQ.

The number of unit sales in the March quarter increased by 2% when compared to the same period last year.

“The popularity of units and townhouses in our major tourist precincts has returned,” says REIQ chief executive officer Anton Kardash.

The sale of units and townhouses in Cairns increased by 54.5% when compared to the March quarter last year, with the strongest activity seen in the sub $250,000 price bracket.

The Sunshine Coast increased by 22.6% sales with growth in activity in the $350,000 to $500,000 price bracket.

The Gold Coast sales activity increased by 19.4% compared to the March quarter last year, with an increase in recorded sales in the $250,000 to $350,000 price range, as well as in the upper-end market.

“These areas have experienced the highs and lows of the GFC and the strength of the Aussie dollar, more than most over the past four years so it is heartening to see them stepping back into light.

“Many of these areas have become more affordable, even those with unique seaside locations, so this is no doubt spurring buyers into action before the tide has turned to the positive completely.”

Sales within the prestige market on the Gold Coast have increased nearly 30% when compared to the same period last year.