Growth in the market
QUEENSLAND units and townhouses have followed the positive lead of the house market, according to the latest Real Estate Institute of Queensland data.
Cairns recorded median unit price growth of 5.5 per cent to $ 205,000 over the December quarter and posted an increase in sales of 8 per cent compared to the same period in 2011.
REIQ CEO Anton Kardash said the numbers of unit and townhouse sales across the state continued the property market’s upward trend. .
‘‘ While there has been an increase in demand for units in the Cairns region, discounting has been partly responsible for this rise in interest as the area is still struggling with high body corporate and insurance levies following Cyclone Yasi more than two years ago,’’ Mr Kardash said.
The numbers of unit and townhouse sales statewide increased 8.9 per cent in the December quarter 2012 compared to the same period in 2011.