City named as top ten hot spot

Townsville Bulletin - - NEWS -

IN­VESTORS are eye­ing cheap houses in Townsville, with the city named among the top 10 best places to buy in Aus­tralia.

Real es­tate group Hotspot­ting listed Townsville in its Na­tional Top 10 Best Buys 2017 re­port, de­scrib­ing the city as hav­ing “among the stur­di­est re­gional economies in Aus­tralia”.

The city’s prop­erty mar­ket had ex­pe­ri­enced an un­bro­ken run of dou­ble- digit growth years from 2002 to 2007 and, af­ter mixed for­tune in re­cent years, is ready to re­sume for­ward progress, the re­port states.

Townsville’s come­back is set to be boosted by projects in­clud­ing Adani’s Carmichael coal mine, a new sta­dium, a $ 1 bil­lion ed­u­ca­tion hub driven by James Cook Univer­sity and $ 6.5 bil­lion res­i­den­tial de­vel­op­ments.

Prin­ci­pal of Keyes & Co Prop­erty and Townsville zone chair­man for Real Es­tate In­sti­tute Queens­land Damien Keyes said the city was get­ting the at­ten­tion and scru­tiny of in­vestors.

“In­vestors tar­get in­fra­struc­ture in their de­ci­sions and it’s piqued their in­ter­est,” he said. “You can buy into an area like Townsville, which has the big­gest pop­u­la­tion north of south­east Queens­land, which has money and in­fra­struc­ture.”

AN­DREW BACKHOUSE

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