MORE homeowners are choosing to buy apartments over houses on the Gold Coast, new research reveals.
Data from the Queensland Statistician’s Office shows 8511 apartments and townhouses were sold in the March, June and September quarters last year compared to 6412 houses.
During that period, the average price for a house ranged between $638,000 and $650,000 while apartments had an average sale price of $425,000 to $427,000.
@realty director JJ Taylor said the company sold $46.9 million in property on the Gold Coast during the first quarter of this year – $26 million of which was apartment and townhouse sales.
“About 60 per cent of sales we made in the first quarter were apartments and townhomes, and there was quite a bit of activity at the top end of the market, which shows demand for this style of property is strong across the board,” Mr Taylor said.
“We sold an apartment in Como Crescent in Southport for $3.22 million and, at the other end of the spectrum, five apartments in Labrador sold to a single investor for $140,000 each.
“While house prices fluctuated in 2017, apartment prices remained stable and that has played a role in the continued demand for this type of property.”