What can buyers get for Brisbane and the Gold Coast’s median unit price?

Many are speculating that Queensland will be the next big growth market for units, with unit rental yields sitting as high as 11.5% in some parts of the state. 

But just how well priced are Queensland’s units? Brisbane and Gold Coast’s median unit price was $359,000 for the March quarter. Property Observer looks at the March quarter’s sales to see just what went for Brisbane and the Gold Coast’s median unit price.

1. 2/31 ARMRICK AVENUE, BROADBEACH 
   
   
   
   This two bedroom, two bathroom ground floor unit in the Gold Coast sold for $360,000. The apartment is tiled throughout and includes a large balcony for outdoor entertaining. Part of a small five unit complex, Unit 2 attracts $34 per week in body corporate fees.
   
   Sale price: $360,000
   Bedrooms: Two
   Travel to CBD (Gold Coast): Walking distance
   
   
2. 3/29 OLIVER STREET, NUNDAH
   
   
   
   Vendors purchased this two bedroom unit in 2009 for $347,500, selling it five years later for $357,000. The unit has two bedrooms and bathrooms, with a balcony entertaining area. Nundah, eight kilometres north east of the Brisbane CBD has seen significant gentrification in recent years.
   

   Sale price: $357,000
   Bedrooms: Two
   Travel to CBD (Brisbane): 14 minute drive

   
   
3. 3/9 CADELL STREET, TOOWONG
   
   
   
   A two bedroom apartment in this eight unit complex sold for $360,000 earlier this year. The unit attracted a price well below the median for units in the suburb, which sat at $439,000 last month. Within walking distance to the train station, the apartment has carpeted bedrooms and tiled living areas.
   

   Sale price: $360,000
   Bedrooms: Two
   Travel to CBD (Brisbane): Six minute drive

4. 11/229 MORAY STREET, NEW FARM
   
   
   
   This newly renovated one bedroom apartment in New Farm sold for $350,000. Its modern interiors are of a superior quality to the other units featured on this list, but this apartment has only one bedroom, with 55 square metres of total floor space. The air conditioned unit is situated in a two storey complex, and in April 2013 was advertised to rent at $370 per week.
   
   Sale price: $350,000
   Bedrooms: One
   Travel to CBD (Brisbane): Nine minutes drive
   
   

5. 6/25 REIS STREET, WOOLLOONGABBA
   
   
   

   This Woolloongabba two bedroom apartment was sold in February for $360,000. It was purchased by the vendors for only $10,000 less in 2009. Two kilometres from the Brisbane CBD, Woolloongabba has a relatively dense apartment market due to its proximity to the Brisbane CBD and the opportunity to capitalise on river views. The median unit price in Woolloongabba was $410,000 for March.
   
   

   Sale price: $360,000
   Bedrooms: Two
   Travel to CBD (Brisbane): Five minutes drive