Queensland’s unit and townhouse market shrugged off this year’s natural disasters and the current economic conservatism to record mostly positive results over the June quarter, according to the Real Estate Institute of Queensland (REIQ).
The REIQ June quarter median unit and townhouse report found the preliminary number of sales rebounded robustly across most of the State with median prices also holding firm.
REIQ managing director Dan Molloy said unit and townhouse sales were up about eight per cent compared to the March quarter courtesy of increased first home buyer and investor demand particularly.
For the Brisbane downtown area, the medium price for the June 2011 quarter was $448,000. This was up 0.1% on the previous quarter. The medium price for the 12 months to June 2011 was $475,000, up 6% on the 12 months to June 2010 (which was $448,000.)