Real Estate

Townsville unit market on the rise

Written by The ReReport
As seen in the Source link, written by on 2019-02-02 05:41:38

8/51-69 Stanley St, Townsville City recently went under contract in an off market sale.

UNIT prices across Townsville have stabilised while small pockets of the city have recorded double digit price growth during 2018 as the market slowly improves.

According to the latest CoreLogic figures there was 0 per cent change to Townsville’s median unit price in the 12 months up to October 2018.

It follows years of falling prices with the median unit price dropping 15.9 per cent in the past five years.

However parts of Townsville are recording promising price growth with the median unit price increasing 26 per cent in South Townsville in the 12 months until October 2018.

Units in Nelly Bay have also fared well increasing 17.6 per cent in a year followed by North Ward where unit prices have gone up 17.4 per cent.

Ray White Townsville agents Linda and Ray Daniels specialise in units and said buyer interest in the unit market had risen.

They said they’d recently had a unit at Urban Quarter at 8/51-69 Stanley St, Townsville City go under contact in an off market sale while units in the city are attracting multiple offers.

“As the redevelopment of the city progress and the stadium the attention is really coming on to Townsville and buyers are definitely showing more interest in units,” they said.

“We’re getting interest form both owner occupiers and investors.

“Anything in the city is definitely getting a lot of attention and we’re finding our inquiry levels are a lot higher than they were 12 months ago.”

REIQ regional director and Keyes & Co principal Damien Keyes said the unit market had risen which was largely driven by down sizers moving from houses into apartments.

“The demand for inner city units by owner occupiers has definitely improved from 12 months ago and that’s been predominantly driven by locals who are empty nesters moving into the city area,” he said.

“In particular three bedroom units seem to be very popular in high quality duplexes such as Dalgety or Altitude.

“The amenities in those larger complexes are really appealing to buyers because they are shopping amenities nearly as much s they are the actual apartment.

“Buyers want a complex with a gym, swimming pool and good BBQ areas.”