Queenslanders jump on rising returns in unit and townhouse market
A recent push toward buying units and townhouses is paying off for local investors.
The latest figures to come from the Real Estate Institute of Queensland (REIQ) show that the state's unit and townhouse market is growing.
In Brisbane the median price for this type of property jumped two per cent to $400,000 in the lead up to Christmas, according to the REIQ's quarterly Market Monitor report, which was published earlier this month.
This is a good result for anyone with a unit or townhouse in the city, but even higher growth was found in areas that have traditionally been built on house sales.
On the Gold Coast there was a median price rise of 5.3 per cent to $350,000 during the same period, while Towoomba's numbers also went up 2.1 per cent to $245,000 - demonstrating increases right across Queensland.
In fact, unit and townhouse median prices either remained steady or increased during 2011 throughout the state - with Cairns being the sole exception to the rule.
"What we are starting to see is that as 2011 progressed, so did confidence levels in our property market with prices beginning to strengthen," explained REIQ chief Anton Kardash.
"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."
But it is not just the promise of rising median property prices that are attracting investors.
Recent studies also show that there is a strong demand for rental properties in and around the state's major metropolitan areas - which means that high rental yields may be on the cards for investors who choose wisely.
Rather than brave the market on your own, first-time investors may benefit from the experience, support and proven investment strategies a property coach can offer.
Your coach can help you plan a Queensland property investment with the long-term in mind - supported by the right strategies and planning to maximise your investment.