Demand for Queensland units strengthens
Demand for units across Queensland has risen, as the market experienced increased demand from those buying a property over the March quarter.
The quarterly Queensland Market Monitor from the Real Estate Institute of Queensland (REIQ) shows that unit and townhouse sales across the state escalated by 11 per cent from the previous three-month period.
It seems that people are also keen to purchase residential property between the values of $250,000 and $350,000 - sales in this bracket alone rose by 22 per cent.
Chief executive officer of the REIQ Anton Kardah explained that demand has mainly been fuelled by first time buyers, who tend to target properties at the lower end of the market.
"About 19 per cent of homes financed in Queensland are now being bought by first home buyers, which is the highest level of activity from first-time property buyers since 2009 when the First Home Owners Boost was available," he observed.
Those hoping to get on the property ladder in Victoria were recently urged by the ABN Group to act sooner rather than later, as many incentives will come to an end on June 30.