Townhouses, units best bargain buy

A SHOCK drop in unit and townhouse prices on the Fraser Coast has opened up the market for buyers looking for a bargain.

“There has never been a better time to buy than right now,” the Real Estate Institute of Queensland’s Fraser Coast chairman Alan Wetton said yesterday.

In the September quarter unit and townhouse prices in our region fell 14.4 per cent – the biggest price drop in southeast and regional Queensland.

Over the year the drop was 5.2 per cent – the largest in regional Queensland and in south east Queensland only pipped by .1 per cent by the Gold Coast.

“This is a huge buyers’ market as those who had to sell here crashed their prices,” Mr Wetton said.

“People have been buying houses rather than units and townhouses.

“In the next three months we will see a real boost to those prices because January and February are traditionally boom times for selling property. People come here to holiday, discover the joys of living on the Fraser Coast and start to look at property to buy.

“I can tell you that these prices will not stay that way for long.”

In Hervey Bay only Pialba townhouse and unit prices rose over the year, increasing by 5.9 per cent.

Scarness dropped by 4.2 per cent, Torquay by 4.8 per cent and Urangan by 10.5 per cent.

Mr Wetton, who is marketing the new state-of-the-art Maryborough Riverside apartments, including a $1.15 million penthouse overlooking the Mary River from Wharf Street, said he had already talked with interested buyers.

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