Unit and townhouse sales have increased by nearly 40 per cent in the past year in Queensland, according to the latest data from the Real Estate Institute of Queensland (REIQ).
The increase reported was for the 12 months between the June quarter 2012 and the same quarter this year. Sales have also increased by 15 per cent compared with the March quarter of 2013.
The REIQ's Pam Bennett said it was interesting to note that the preliminary number of unit sales this quarter was only marginally lower than during the strong spring selling season of 2012.
“That is, there were only 66 fewer sales this quarter than in the September quarter last year,” Ms Bennett said.
“In fact, the June quarter is usually the weakest of the four quarters throughout the year. Over the last 12-month period, however, this quarter was actually the second strongest and very nearly wore the crown as the stand-out three-month period of unit sales activity.”
In Brisbane, the number of unit and townhouse sales increased by 26 per cent compared with the June quarter last year and sales were up 21 per cent compared to the March quarter this year.
Top Brisbane performers that posted median price growth over the quarter, and the year, included Kangaroo Point, Nundah and West End, Ms Bennett said.