There’s still strength in our suburbs

RESIDENTS living in the suburbs north of the city will not be surprised to learn their property prices are bucking the struggling trend across most of the city.

A new value report prepared for Aussie and Core Logic reveals Alice River, Mount Low and Bushland Beach are Townsville’s standouts for family homes.

In Alice River, the median house price is $ 468,831, well above the median across Townsville, which is sitting at $ 340,000.

Alice River, Mount Low and Bushland Beach are also popular for families, with more than half the householders in those suburbs having children.

Local real estate agents attribute the resilience of the markets in those suburbs to the fact owneroccupiers stayed and rode out the crash caused by the global financial crisis, while investors elsewhere were selling at a loss to be free of their investments.

Ray White real estate agent Craig Currie said about 10 per cent of Alice River homes were rentals.

What makes the experience in those outer suburbs more remarkable is the fact Townsville’s median price has fallen by 2 per cent, while Alice River’s, for example, has increased by 7.3 per cent, according to Core Logic.

It is good to see positive news in our property market, especially in the bustling and growing communities on our city’s fringe.

The northern beaches have quickly become a powerhouse of growth and development for our city and once far- flung outlying communities are being swallowed by the city’s expansion.