Property market waiting game over
HE or she who hesitates will pay more.
That is one of the messages of property consultant Kerri e Young who has painted a particularly bright outlook for the future of Townsville’s property market.
She also urged industry leaders to ensure the Townsville council implements the recommendations of the State’s Infrastructure Charges Taskforce, released this week, as quickly as possible.
‘ ‘ Don’t wait. Get your council to implement that as soon as possible,’’ she said.
‘ ‘ Infrastructure charges are one of the things that has stopped development because they are just not viable.’’
Ms Young, the operator of Gold Coast -based consultancy Kerrie Young Property, addressed a breakfast meeting of the Townsville branch of the Urban Development Institute of Australia yesterday.
She said Townsville was by far in the best economic shape of any regional city or town in Queensland although its property sales had dropped more sharply than Mackay, Gladstone or the Gold Coast in 2009 when the conditions from the global financial crisis took hold.
Ms Young said population growth was continuing around 5000 people a year at Townsville and with the drop off in development there was a lot of pent-up demand for housing.
‘‘ When it does move, because there is pent up demand, it’s going to go off correspondingly quickly,’’ she said.
‘‘ You are definitely in a good position to come out of this downturn. People out there waiting for it to get worse or get to the bottom, it’s ( already) the bottom of the market. If you are hesitating, don’t, get in now.’’
Ms Young said there was plenty of housing stock available at present but not an over-supply.
Another issue for meeting demand would be the ability of utilities such as Ergon Energy to meet demand for connections in light of ongoing work to rectify damage to the network from flooding and cyclones.
POSITIVE: Property consultant Kerrie Young says now is the time to buy in Townsville