Sales for units and townhouses in Queensland were up almost nine per cent after the state's south east region performed extremely well.
According to the REIQ’s December Queensland Market Monitor (QMM), 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.
REIQ CEO Anton Kardash said the concentration of sales was focused on the south east corner of the state.
“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 report, 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 eight per cent; and on the Sunshine Coast sales numbers rocketed by 23 per cent.
“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.