City named as top ten hot spot
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.”