Queensland unit market springs back

Natural disasters and lowered consumer sentiment have failed to dampen the spring selling season in Queensland, with unit and townhouses recording positive growth over the June quarter

The Real Estate Institute of Queensland (REIQ) reports that the median number of sales in this area has held firm through the middle of the year in the face of many predictions from industry commentators - good news for investors with property training.

In fact, the number of smaller dwellings had risen by approximately eight per cent over the previous quarter.

Managing director at REIQ Dan Molloy attributes this outcome to the affordability of apartments and townhouses when compared to traditional quarter-acre blocks - spurring the investment decision making process.

"First home buyers and investors are also making a return after being fairly absent from the market for more than a year and their increased activity is partly behind the increase in the number of sales in the $350,000 to $500,000 price bracket," he said.

Figures from the Australian Bureau of Statistics back his statements, indicating that the number of first home buyers in Queensland has risen by seven per cent, while investors registered a 15 per cent improvement in the market over the previous quarter.