PROP­ERTY CAP­I­TAL IN­VEST­MENT

Townsville Bulletin - - NEWS - CHRISTIE AN­DER­SON christie. an­der­son@ news. com. au

TOWNSVILLE is at­tract­ing the at­ten­tion of home buy­ers from cap­i­tal cities drawn to the re­gion’s af­ford­able prop­erty mar­ket.

Owner- oc­cu­piers, in­vestors and peo­ple look­ing to buy land and build their dream home are eye­ing off op­por­tu­ni­ties in Townsville.

As up­com­ing pro­jects progress s such as the North Queens­land Sta- dium in­ter­est is ex­pected to soar.

Deputy Mayor Les Walker said as s well as af­ford­able house prices Townsville had a great life­style to of­fer.

“There is def­i­nitely in­ter­est from south­ern in­vestors, more so in the older house stock,” he said.

“There are peo­ple mov­ing here for the life­style and our fo­cus at coun­cil is main­tain­ing and im­prov­ing that and also mak­ing sure there are jobs for peo­ple.

“Hous­ing prices are low and that means it is quite af­ford­able for peo­ple who are mov­ing here.”

North Shore pro­ject man­ager An­drew As­torquia said they were pre­par­ing for a rise in in­ter­est from peo­ple in south­east Queens­land.

The UDIA pub­lished the “State of the Land” re­port in 2016 which showed the av­er­age lot size in south- east Queens­land had re­duced to be­low 500sq m for the first time at an av­er­age price of $ 255,750. As of to­day, we have 600sq m lots priced at $ 167,000 min­utes from play­grounds, schools and shops,” he said.

“It doesn’t take much re­search for buy­ers to un­der­stand the value of­fered in Townsville ver­sus south­east Queens­land.

“As the Townsville econ­omy starts to im­prove, as it is ex­pected to do over the next few years and with it more jobs be­ing cre­ated, the af­ford­abil­ity of­fered in Townsville in terms of bang for your buck will cer­tainly be­come more ap­peal­ing to south­ern buy­ers .”

Real es­tate ex­pert Terry Ry­der has also listed Townsville among the top 10 places to in­vest in the coun­try in his hotspot­ting re­port.

Mr Ry­der said he ac­knowl­edged that if you looked at Townsville right now at the cur­rent num­bers you wouldn’t want to buy there.

“We are sug­gest­ing the fu­ture is a lot bet­ter,” he said. “There are some big events com­ing up in Townsville in terms of in­fra­struc­ture.’’

REIQ Townsville Zone chair Damien Keyes said Townsville was per­fect for in­vestors search­ing for af­ford­able prop­erty.

“Mel­bourne and Syd­ney prices have been run­ning hot but they seem to be slow­ing and with that in­vestors will start look­ing fur­ther afield for bet­ter re­turns and that’s been hap­pen­ing in Townsville.”

Realestate liftout: IN­SIDE TO­DAY

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