MPs invest in their own slice of the city
QUEENSLAND’S politicians have committed to growth in Townsville’s real estate market, with federal and state MPs declaring they own investment properties in the region.
According to the Register of Members’ Interests, key areas in the city have become attractive buys for the state’s politicians, on top of their family homes.
Records show Townsville MP Scott Stewart has an investment property in Oonoonba while Dalrymple MP Shane Knuth owns a rental house in Kirwan.
But for Rob Katter it’s The Strand that represents the best value for investment.
The Queensland leader of the Katter’s Australian Party owns two neighbouring houses in North Ward along with his Mount Isa residence.
Interest in the suburb appears to run in the family, with Mr Katter’s mother Joy also invested in a house nearby.
Real estate in North Queensland has even drawn attention from a politician based on the Gold Coast.
Federal MP Karen Andrews rents out a three- bedroom investment property in Ayr.
McGrath Townsville principal Brad Matheson said it was no surprise.
“Townsville as an investment is still a good prospect because the prices are quite affordable,” he said.
“It’s a great moment to get into the market as an investor.
“Even though vacancy rates are about 5 per cent ... locals are used to 2 per cent vacancy rates but the good news is that we’re finding that they are trending downwards and should continue to improve.
“We’re seeing interest from Sydney and Melbourne.”