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Demand for units and townhouses rise on Gold Coast

By Amanda Shannon

Gold Coast real estate has seen a jump in demand, especially for units and townhouses that are more affordable.

Properties that sold for less than $250,000 saw an increase in the number of sales.

The Real Estate Institute of Queensland's (REIQ) September median unit and townhouse price report found the state recorded a 40 per cent jump over the quarter while there was a 14 per cent increase over the same time last year.

REIQ CEO Anton Kardash said the number of properties sold for under $350,000 has increased.

He commented: "The greatest numbers of sales was in the $250,000 to $350,000 price bracket, which recorded about 1,250 preliminary sales over the quarter – also an increase on last year.

"Units and townhouses continue to be a reasonably priced, and also preferable, option for many buyers who want the convenience of living closer to the city while also keeping a lid on their borrowings."

The previous quarter was more quiet than usual, the REIQ said, because many buyers were waiting for stamp duty concessions to kick in on the first of July.

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