The latest Hotspotting Price Predictor Index has found Townsville a standout property market. Picture: Evan Morgan
Townsville has been named one of the nation’s standout property markets with four suburbs ranked as “supercharged” for value growth in the latest Hotspotting Price Predictor Index.
The report, based on sales volumes as a predictor of price movement, found small cities and key regions dominated the Australian real estate game in the past quarter with Townsville a top performer alongside the likes of Perth, Adelaide, Darwin, Gladstone and Mackay.
Hotspotting Director Terry Ryder said Townsville continued to be one of the standout markets in the nation.
“The unofficial capital of North Queensland benefits from a sturdy, diverse local economy which underpins a real estate market boosted by the city’s attractive affordability, lifestyle, and ability to generate employment,” he said.
Hermit Park, where 40 Ackers St is for sale for $699,000, has been named a Supercharged Suburb.
“Of the 26 Townsville suburbs included in our analysis, 15 are currently classified as rising markets and seven are consistency markets.
“Four of them are included on our National Top 100 list of Supercharged Suburbs – Burdell (median house price $415,000), Hermit Park ($440,000), Idalia ($545,000) and Mt Louisa ($410,000).”
Supercharged Suburbs are those with the strongest growth patterns and most likely to deliver future value growth.
The Price Predictor Index also named Townsville a “growth star” as one of Australia’s top 10 municipalities.
Mt Louisa (pictured) is one of Townsville’s four Supercharged Suburbs. Picture: Morgan Evan.
Mr Ryder said an unusual feature of this quarter’s report was the fact that there didn’t appear to be a core underlying trend in markets across the nation.
“The previous edition – Summer 2022-23 – suggested that the pursuit for affordability was the key theme, but this autumn’s edition finds no common issue running through the various markets across Australia,” he said.
“The reality is that markets are highly segmented.
“Capital cities have contrasting outcomes within their borders and individual municipalities commonly have a mix of rising, consistency, plateau, and declining suburbs.”
Mr Ryder said while the top end markets were weak in many jurisdictions, the opposite was true in Sydney where some of the prestige markets have shown signs of recovery.
“The cheaper outer-ring locations have weakened noticeably in the biggest capital cities, but they remain solid in the smaller and most buoyant cities, including Perth, Adelaide and Darwin,” he said.
“Four of them are included on our National Top 100 list of Supercharged Suburbs – Burdell (median house price $415,000), Hermit Park
Hermit Park
Hermit Park is a suburb of Townsville in the City of Townsville, Queensland, Australia. In the 2016 census Hermit Park had a population of 3,414 people.
https://en.wikipedia.org › wiki › Hermit_Park,_Queensland
($440,000), Idalia ($545,000) and Mt Louisa ($410,000).” Supercharged Suburbs are those with the strongest growth patterns and most likely to deliver future value growth.
In recent years, Townsville's population has boomed with a growth of 164 per cent between June 2022 and June 2023, and the northern suburbs including Bushland Beach, Burdell, Mount Low and Deeragun have proven popular amongst those who have decided to call Townsville home.
The property landscape in Townsville is expected to undergo a significant transformation, with experts predicting a sharp increase in prices due to a growing population and a lack of new housing developments.
“There is also continuing interest from interstate buyers and expats.” Castle Hill remains Townsville's most expensive suburb with a median house price of $1.1m. It is followed by North Ward at $862,500. The top growth suburb over the past 12 months was Toolakea, with house prices soaring 51.8 per cent to $545,000.
The Benefits of Investing in Property in Townsville
One of the key advantages of investing in Townsville is the strong rental demand in the area. With a growing population and an increasing number of people relocating to the city, there is a consistent need for rental properties.
The city's thriving inner east – including Woolloongabba and Dutton Park – and Albion, Paddington, Hamilton and Kelvin Grove are some of the hot spots expected to boom off the back of major infrastructure spending ahead of the games, with Greater Brisbane set to soar past the million-dollar median house price mark soon ...
According to Knight Frank, Townsville is expected to have 23,000 extra residents by 2031, with around 9200 extra properties needed – or 1150 per annum – to cater for demand. Mr Stack said even as the population increased, fewer new houses were being built in the region, resulting in a housing shortage.
A: Some of the best suburbs in Townsville for an authentic Australian lifestyle include Castle Hill, North Ward, Belgian Gardens, Black River, Alice River, Mount Low, Bushland Beach, Rangewood, Annanadale, and Gumlow.
Heatley had the cheapest real estate with a median house price of $290,000, even after a 9.4 per cent growth in the past 12 months. Vincent was second with a median house price of $295,000 followed by Rasmussen ($315,000), Garbutt ($317,500) and Condon ($320,000).
Townsville is considered to have a "high" level of crime, with an overall rating of 60.80 on the index. The three worst cities - Caracas (Venezuela), Port Moresby (Papua New Guinea) and Pietermaritzburg (South Africa) - are rated at 84.92, 84.06 and 81.92 respectively.
Cairns is the regional centre, back packer central and doesn't have a beach. The Cairns area generally has more to do and more to see than the Townsville area, and a wider choice of accommodation. Also easier to get to if flying with many more flights, and generally the airfares are lower to CNS than TSV.
There are two safe swimming spots – The Strand North and South – which are patrolled by lifeguards over summer and installed with stinger nets during 'stinger season' from November to May.
With more than $13.6 billion in projects committed to development in the regions pipeline and a forecast of approximately 50,000 new jobs required in the next decade, Townsville North Queensland is on the cusp of significant economic prosperity and will further cement its position as the Capital of North Queensland.
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Introduction: My name is Duncan Muller, I am a enchanting, good, gentle, modern, tasty, nice, elegant person who loves writing and wants to share my knowledge and understanding with you.
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