Townsville Housing Market 2016 – The median house price in Queensland rose from $460,000 to $467,375 during the quarter. With the exception of Rockhampton, Gladstone and the Fraser Coast, most local governments in Queensland reported average house price growth in the December quarter.
Gladstone, Mackay, Rockhampton and Townsville are the worst affected areas and remain dependent on the mining industry to support economic development and job creation.
Townsville Housing Market 2016
In general, infrastructure investment is increasing in regional Queensland, particularly in Townsville, Toowoomba, Bundaberg and Rockhampton. Much of the region’s hopes hinge on the success of the Adani mine. There are still environmental issues that could delay or stop mine construction and operation.
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Coking coal prices also showed volatility in 2017, ranging from US$220 per ton to US$160-170 per ton in 2017.
• $200 million for the Jobs for Queensland program for local councils across the state to create jobs, maintain and complete small infrastructure projects.
This funding is in addition to the Regional Infrastructure Projects Program, the Queensland Skills for Work Program, the Back to Work Program and the First Home Owner Grant.
Similar to the current performance of the property market across the country, the market outlook remains uncertain and depends on the success of economic stimulus measures to achieve the expected results.
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The Fraser Coast is one of Queensland’s most affordable regions, with a median sale price of $303,000 for the December quarter, up from $310,000 for the September quarter.
With a current median unit price of $230,000, the Fraser Coast is the fourth least expensive for units, after the median sales price fell 6.7 percent in the quarter.
The Fraser Coast is heavily dependent on manufacturing and tourism for jobs and economic growth. The scope of infrastructure projects on the Fraser Coast is limited, which does not support the potential improvement in the housing market.
Fraser Coast vacancy rates have changed in 2016. Maryborough recorded a strong increase in vacancies from 2.4 per cent in September to 5.6 per cent in December. On the other hand, Hervey Bay vacancies were in a narrow range in December.
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The housing market has remained stable over the past 12 months, with an annual median sales price of $305,000 in the December quarter.
In the medium term, the median annual sales price recorded a 7 percent increase from $285,000 in December 2011 to $305,000 in December 2016.
The largest transactions for the housing market were priced under $350,000. December quarter data shows a decline from 421 in September to 287 in December.
Compared to the previous quarter, market trend indicators recorded a slight increase in the number of listings and shares on the market in the 12 months to November. This supports an increase in average days on market from 82 to 88 days in the 12 months to November.
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Meanwhile, the average seller’s discount has been reflected in the market, offering buyers more options, with the average seller’s discount 6.3 percent for the 6 months to November 12, 2016.
The unit market has followed a downward trend over the past three quarters, with the median sales price falling 6.7 percent from $246,500 in September to $230,000 in December.
Despite this decline, the annual average sales price increased 4.9 percent, from $243,000 in the December 2015 quarter to $255,000 in the December 2016 quarter.
In the medium term, the unit market remains weak, with annual sales prices falling 8.7 percent from $279,450 in December 2011 to $255,000 in December 2016.
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List volume and market share remained stable in the 12 months to November 2016. The average retailer discount showed a moderate improvement, from 6.3 percent in November 2015 to 6 percent in November 2016. Conversely, the average days on market increased significantly (longer than half a month) from 80 days in November 2015 to 97 days in November 2016.
The Fraser Coast’s vacancy rate has been subdued for some time, at 3.3 per cent for December and 2.9 per cent for September. Maryborough’s rental market recorded the biggest increase in vacancy rates in the December quarter at 3.2 percentage points, with vacancy rates reaching 5.6 per cent (mainly due to a surplus of new homes in the region).
Average weekly rents for three-bedroom homes and two-bedroom apartments increased by $5 in the December quarter. In contrast, the average weekly rent for three-bedroom townhouses fell from $330 in September to $315 in December. Local agents indicate that the rental market is stable, but the increase in new homes is causing a temporary increase in the supply of rental properties. The Townsville property market presents a world of opportunities for the savvy buyer. Is it the pot of gold at the end of the rainbow?
Current forecasts (for June/July 2021) indicate that these areas could withstand a severe Covid 19 outbreak in 2020. This area “defeated all odds” and was amazing (or maybe not so amazing). ) on the roof. Read on to discover our old projections paired with this new lens as we embark on a journey unlike any we’ve ever thought we’d return to in 2018.
The Townsville Suburb On The Way Up
House prices in Townsville are on the rise, according to Realestate.com.au. The BIS Oxford Economics Housing Outlook 2018-2021 report found that Townsville’s housing market is stable and prices are expected to increase until June 2021. The last drop stabilized in 2017 and things have improved since then. Damien Keyes, director of property at Keyes & Co, said increased buyer activity and infrastructure projects in the pipeline suggest that prices will continue to rise in the future.
Post covid? We’ll see. In terms of income levels and property values and prices, Covid 19 has almost overtaken this small part of Queensland. It is an area driven by stable employment and a stable market. Stable in terms of new home sales, new construction and rental properties – it’s perfectly positioned for a skyrocket, but it’s now cooling its feet after years of worrying global issues.
The median house price in Townsville is $335,000, and the average property takes about 63 days to sell. The rental market continues to stabilize and vacancies fall to 3.8 percent. It’s definitely a growing city, and that’s reflected in the data. Townsville has experienced around 11% growth in property demand, despite challenges in the role playing sector.
Townsville (and North Queensland) is presented as part of a positive property cycle. More than $7 billion will be spent on infrastructure to support the region’s diverse and growing economy.
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It has become somewhat of an aspirational destination, with many neighborhoods open to amazing winds and beaches. This is a market that has exceeded expectations.
Investors are flocking to this market, with many choosing to sell and rent as they understand the next step in their journey. Landlords are selling, which boosts the market, but there’s still some insecurity for long-term renters (vacancies are low, so you’ll face a lot of competition if you rent). This market trend puts many FIFO or temporary households in a difficult position, so we see many of them buying instead of renting.
Inflated house prices in the Big Smoke compared to smaller ones in Townsville are ringing interstate buyers. It’s a lifestyle simplification (as mentioned above) and there’s no sacrifice in living standards when it comes to shopping here.
At the last census Townsville had a population of 149,512 with a median age of 37. This is an indication of the large number of families (38,495) and professionals working in the region – a growing demand for great culture and a family-friendly scene. A large proportion of the population are university graduates – shaping the face of Townsville in the future. ‘
Townsville Property Market In Review
Townsville offers plenty of opportunities to immerse yourself in outdoor adventure. This area of the world is truly nature’s playground.
Billabong Cemetery is an 11 hectare wildlife sanctuary in Nome, 17 kilometers south of Townsville, North Queensland, Australia. Voted by many visitors as Australia’s best wildlife refuge, it’s a wonderful resource for families and those looking to appreciate the natural wonders of nature. It’s a bit pricey to attend ($70 for adults and $50 for children), but it’s something young family members won’t soon forget.
The Reef Headquarters Aquarium is the largest living reef aquarium in the world and is located in Townsville. The aquarium was built as a two-year landmark project and is part of the Great Barrier Reef Marine Park Authority. The aquarium has more than 100 corals, fish, sea urchins and other marine animals.
The Strand in the heart of Townsville offers visitors the perfect opportunity to stroll and reflect on the true beauty of the region. Located outside the North Ward
