Apartment Prices Strengthen says REIQ

From an REIQ Press Release issued today:

The Queensland unit and townhouse market is showing healthy signs of recovery with many areas across the State posting median prices increases over the December quarter, according to the Real Estate Institute of Queensland (REIQ).

The REIQ quarterly Queensland Market Monitor, which tracks median property prices and rents across the State, found that prices in the fourth quarter of last year rebounded in most areas of South East Queensland.

"What we are starting to see is that as 2011 progressed, so did confidence levels in our property market with prices beginning to strengthen," REIQ CEO Anton Kardash said. "Many regions posted their most robust price results this quarter since prior to the natural disasters at the beginning of last year. As we move into 2012, REIQ accredited agencies are reporting healthier levels of enquiry with first home buyers and investors especially taking a keen interest in the more affordable unit and townhouse market."

According to reiq.com, there are more than 5,000 listings for Queensland units and townhouses currently for sale under $350,000. The median unit and townhouse price in Brisbane increased 2 per cent to an even $400,000 over the December quarter. On the Gold Coast, it increased 5.3 per cent to $350,000 and was up 2.1 per cent to $245,000 in Toowoomba.

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