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Property News

Townhouses proving popular in the sunshine state

December 14, 2011

The Australian dream of owning a home has seen a shift in focus in the sunshine state, with an industry report showing that townhouses are becoming increasingly popular.

According to research performed by the Real Estate Institute of Queensland (REIQ), both renters and investors are turning to this particular type of residential property.

The REIQ's September quarter report into townhouse and apartment markets has shown that the growing number of developments over the last decade has had a marked impact on the industry.

It states that there has been approximately 20 per cent of all unit sales over the three month period fell into this sector.

Speaking on the report's findings, managing director of REIQ Dan Molloy said that the trend was most likely due to the fact that townhouses offered occupants a mix of attributes associated with both apartments and larger properties.

Molloy asserted: "Many people, whether they are buyers or renters, still want a three-bedroom property but don’t want the hassle of general home maintenance such as spending your weekend mowing the lawn or weeding the garden, so townhouses can offer the perfect solution.

"They are attractive to buyers who desire a larger property, which is still affordable, but is located closer to the city or entertainment precincts."

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