MPs in­vest in their own slice of the city

Townsville Bulletin - - NEWS - KIERAN ROONEY

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.”

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