$24M in property sales signals market growth
May 14, 2013
While the Queensland property market has been hindered by a struggling post-GFC economy in recent years, Sunshine Coast developer Reed Property Group has seen over $24 million in apartment sales in the past eight weeks, demonstrating a clear revival in the local market.
Reed Property Group (RPG) Sales and Marketing Manager, Jason Kollanyi said the organisation had sold more than 60 apartments across four projects between Mackay and Brisbane since early March.
“The Parks in Sippy Downs on the Sunshine Coast completes next month, with only one apartment still available, and we have strong sales from Rivermarque in Mackay, which is currently under construction and attracting buyers from across Australia and oversees who recognise the great investment potential of the area,” Mr Kollanyi said.
“In addition, strong sales have come from Stage Two of Emporio in Maroochydore which commences mid-year and the iconic Belise in Brisbane which is set to commence construction in the last quarter of the year. We believe the market bottomed out in 2012 with a positive start to 2013 including sales from both owner occupiers and investors looking to take advantage of the highly competitive pricing on apartments and the Queensland growth forecast.”
“This coupled with this week’s reduction in interest rates to record lows, indicates a very positive outlook for property sales going forward.”
Mr Kollanyi attributes the strong sales figures to the positive cash flow opportunities available on many of the properties, a phenomenon not seen often in the property market in the past couple of decades.
“The current market offers affordable pricing made even more attractive by the possibility of getting returns in the first year of ownership, thanks to great incentives and offers such as the guaranteed returns of seven per cent for five years we’re offering at Rivermarque,” Mr Kollanyi said.
“Many of our sales are coming from repeat purchasers and our well-established network of agents that all have confidence in the product we have offered over the past 25 years.”
The average price of the 60 units sold is under $400,000 with $225,000 being the lowest price point. For more information on Reed Property Group projects, please visit www.reedproperty.com.au or call Jason Kollanyi on (07) 5479 4444.
Ends.
Media contact: Maya Gurry – Fresh PR & Marketing
P: 0410 109 102 E: maya@freshprm.com.au
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