Buying Spree Heralds a Market Revival in Queensland

Property industry agents are claiming a revival in the local residential housing market following the sale of over $24 million worth of apartments in the past two months between Queensland’s Mackay and Brisbane.
Reed Property Group reportedly sold over 60 apartments since March in jsut four projects, with only one development remaining in Sippy Downs, which is expected to be completed in June.
Sales and marketing manager for Reed Property Group, Jason Kollanyi, said that there was strong interest from local and overseas buyers for their nearly-completed Mackay Rivermarque project, and also for their apartment developments situated in Brisbane and Maroochydore.
The average selling price of units was reported as under $400,000, with the lowest selling for $225,000.
Mr Kollanyi pointed out that the strong sales numbers could be partially attributed to the positive cash flows that was present for a majority of the developments.
He believes that the recent sales activity show a clear revival in the local property market following the post-GFC struggle.