Queensland investors are looking for value and are finding townhouses and units offer a secure investment at an affordable price.
At Underwood a specialised 40 townhouse development has commenced off Logan Road. Underwood Green by Brisbane based AR Developments offers investors and new home buyers three bedroom townhouses from $375,000 to $385,000.
Many homes buyers have refined their property search as they are price sensitive, yet still conscious of location, maintenance and design of properties.
Sales volumes of townhouses across Queensland have strengthened further over the last year, according to the latest Real Estate Institute of Queensland (REIQ) data report.
The Queensland preliminary sales of units had increased by 2% compared to the same time last year.
Many first home buyers are purchasing units and townhouses as their first property investment, because some sections of the housing market are out of reach, in unsuitable locations, or require extra work and maintenance.
AR Developments are tailoring their developments to meet the increasing demand for townhouses and applying their signature attention to detail at Underwood Green, 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.
“Our townhouse projects offer privacy and flexibility compared to unit complexes, which can be tied up into large, complex body corporate arrangements,” Mr McMillan said.
“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 things to our buyers, such as location, spacious living areas and duplex designs with modern fixtures,” Mr McMillan said.
Brisbane’s median unit price was steady at $390,000 over the March quarter.
Some suburbs of Brisbane performed solidly, including Upper Mt Gravatt, which posted a growth rate of 9.6%.
The Logan City Council is completing the Underwood Green intersection construction and anticipates the intersection of Stegemann and Logan Roads to be ready for traffic by 30th October 2013.
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Released by Sarah O’Brien
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