THE QUEENSLAND TIMES REPORTS:
Units, townhouses and duplexes are the flavour of the month in the Ipswich region, according to Real Estate Institute of Queensland (REIQ) zone chairman Peter Mendoza.
Mr Mendoza couldn't find one property fitting that description for sale on his books at PRD Nationwide yesterday - they'd all been sold.
"They're becoming more popular with home buyers," Mr Mendoza said.
"At the moment the stock in units has dried up."
Buyers of units usually aren't keen on looking after yards, or are attracted by the affordability compared with houses, Mr Mendoza said.
He estimates that Ipswich properties are 30 per cent cheaper than Brisbane.
"Any residential property's strong at the moment," he said.
"Sixty per cent of our buyers are local.
"Thirty per cent are investors and some of those are from interstate."
Mr Mendoza said popular suburbs for buyers at the moment were Flinders View, Yamanto, Brassall and Woodend.
January and February are good sales months for PRD Nationwide, with lots of buyers.
The Goodna area has recorded a price increase of 18.2 per cent for units and townhouses in the 12 months to the end of September 2007, from $148,000 to $175,000.
Buyers at Redbank Plains are now looking at a median price of $190,000, a rise of $31,000 since the end of September 2006.
REIQ figures released yesterday show that it is still possible to buy a unit or townhouse for less than $250,000 in one-third of Queensland's major centres.
"While declining housing affordability continues to be a serious issue for first-home buyers, many people are now recognising that there is a way to get into the property market, and that is units or townhouses," REIQ chairman Peter McGrath said.
"With the possibility of more interest rate rises this year, and some banks already raising interest rates independently of any moves by the Reserve Bank, first-home buyers especially need to be careful not to over-capitalise to get into the market.
"Units and townhouses continue to be affordable options with these housing types still having medians under $250,000 in many parts of the State.
"In today's market, properties under $250,000 represent a very affordable way into the market and ensure that first-home buyers can better meet their monthly loan repayments."
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Units, townhouses and duplexes are the flavour of the month in the Ipswich region, according to Real Estate Institute of Queensland (REIQ) zone chairman Peter Mendoza.Mr Mendoza couldn't find one property fitting that description for sale on his books at PRD Nationwide yesterday - they'd all been sold.
"They're becoming more popular with home buyers," Mr Mendoza said.
"At the moment the stock in units has dried up."
Buyers of units usually aren't keen on looking after yards, or are attracted by the affordability compared with houses, Mr Mendoza said.
He estimates that Ipswich properties are 30 per cent cheaper than Brisbane.
"Any residential property's strong at the moment," he said.
"Sixty per cent of our buyers are local.
"Thirty per cent are investors and some of those are from interstate."
Mr Mendoza said popular suburbs for buyers at the moment were Flinders View, Yamanto, Brassall and Woodend.
January and February are good sales months for PRD Nationwide, with lots of buyers.
The Goodna area has recorded a price increase of 18.2 per cent for units and townhouses in the 12 months to the end of September 2007, from $148,000 to $175,000.
Buyers at Redbank Plains are now looking at a median price of $190,000, a rise of $31,000 since the end of September 2006.
REIQ figures released yesterday show that it is still possible to buy a unit or townhouse for less than $250,000 in one-third of Queensland's major centres.
"While declining housing affordability continues to be a serious issue for first-home buyers, many people are now recognising that there is a way to get into the property market, and that is units or townhouses," REIQ chairman Peter McGrath said.
"With the possibility of more interest rate rises this year, and some banks already raising interest rates independently of any moves by the Reserve Bank, first-home buyers especially need to be careful not to over-capitalise to get into the market.
"Units and townhouses continue to be affordable options with these housing types still having medians under $250,000 in many parts of the State.
"In today's market, properties under $250,000 represent a very affordable way into the market and ensure that first-home buyers can better meet their monthly loan repayments."
CLICK HERE TO READ ALL ITEMS ON THIS WEBSITE.
WHAT'S HAPPENING AROUND YOUR LOCAL AREA
Stay in touch with all the local news in your suburb.
Register for Google Alerts for your area by selecting key
words such as your suburb name or "Division 2 News".
You will then receive immediate email notification of all
relevant updates to this site as well as any online news
service in the world which mentions your selected suburb(s).
When signing in, under "Type" select "Comprehensive".
If you want to know what's happening around Division 2,
email your local Councillor Paul Tully today.
