Queenslanders are looking to down-size and find townhouses and units as a compelling alternative to larger homes.
Sales of townhouses across Queensland have strengthened further over the last year, according to the latest Real Estate Institute of Queensland (REIQ) data report.
The preliminary sales of units had increased by 2% compared to the same time last year.
Tourist driven areas including Gold Coast, Sunshine Coast and Cairns are seeking increased interest in units and townhouses from buyers.
“The popularity of units and townhouses in our major tourist precincts has returned,” REIQ CEO Anton Kardash said.
According to REIQ, the tourist driven areas have become more affordable, even the unique seaside locations.
REIQ data has shown that the Sunshine Coast experienced an increase in sales in the $250,000 to $350,000 price range, with a significant increase in the number of units and townhouses sales priced between $350,000 and $500,000.
Aspect North, a recent development at Brightwater by AR Developments, will see 67 townhomes built in response to this renewed interest in townhouses among home buyers.
“With affordability and quality at the forefront of home buyers’ minds, we have turned our business into specialising in quality townhouse developments that offer the right features to our buyers, such as location, spacious living areas and duplex designs with modern fixtures,” AR Developments, General Manager Mr McMillan said.
AR Developments are tailoring their developments to meet the increasing demand for townhouses and applying their signature attention to detail at Aspect North, offering visually attractive, affordable and low maintenance properties that are ideal for first home buyers and investors.
“People are looking for reassurance in their investments. We have seen an increase in popularity in the renting of townhouses to cater for people’s needs of housing affordability, lifestyle and convenience to travel to work,” AR Developments General Manager, Mick McMillan said.
According to REIQ data, sales of townhouses and units in Cairns increased 54.5 per cent, the Sunshine Coast increased 22.6 per cent, and the Gold Coast increased19.4 per cent compared to the March quarter last year.