Brisbane townhouses are proving to be “the best of both worlds” according to the Real Estate Institute of Queensland, as their popularity skyrockets amongst both buyers and renters.
REIQ September quarter data reveals that nearly 20% of all unit sales in Queensland were townhouses, while Residential Tenancies Authority (RTA) data shows that the number of three-bedroom townhouses being rented in Queensland has increased by more than 80% in ten years.
This statistic sits in marked contrast to the 3% increase in three-bedroom houses being rented over the same ten-year period, indicating a marked shift in tenant preferences.
“Townhouses are usually priced midway between houses and units so they are the best of both worlds really. They are attractive to buyers who desire a larger property, which is still affordable, but is located closer to the city or entertainment precincts,” said REIQ managing director Dan Molloy.
“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.”
So where should an investor head to in order to cash in on this tide of change? The top three Brisbane postcodes for rental townhouses are as follows:
- 4113: including Runcorn and Eight Mile Plains
- 4152: including Carina and Carindale
- 4122: including Mansfield and Mount Gravatt East
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