PROPERTY CAPITAL INVESTMENT
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