Prop­erty mar­ket wait­ing game over

Townsville Bulletin - - Investor - Tony Rag­gatt

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

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