Big jump in North Ward prices

Townsville Bulletin - - NEWS - TESS IKONOMOU

A TOWNSVILLE sub­urb is one of 10 in Queens­land with the big­gest rise in me­dian prop­erty prices.

North Ward made the list, with the me­dian price for a unit listed as $ 320,000, a surge of 29.3 per cent in the past 12 months.

The me­dian price for Townsville is $ 280,000, up $ 20,000 ac­cord­ing to the lat­est REIQ’s Queens­land Mar­ket Mon­i­tor Re­port.

REIQ Townsville Zone chair­man Wayne Ni­chol­son said the re­sults didn’t sur­prise him.

“North Ward has al­ways been very strong for Towns- ville. It’s off the coast, so when we get south­ern buy­ers who ar­rive, a lot of them look at prop­erty in North Ward,” he said.

“It’s a great place to live, you can walk to The Strand and the Rock Pool, there are all the bars and restau­rants, and you’re treated to Jezzine Bar­racks.

“Even though prices de­te­ri­o­rated over the last few years, North Ward was one to re­tain … be­cause of the low va­cancy rate there’s no risk.”

Ray White Geaney Prop­erty Group owner Ella Geaney said this was a good time of year for the mar­ket.

“There’s low in­ter­est rates, there’s more con­fi­dence in the Townsville mar­ket, it’s a per­fect time for first- time buy­ers look­ing to get into it,” she said.

“It’s a life­style change … lo­ca­tion is the key to a good in­vest­ment.

“When you’re in the city hub it’s only a 15 minute drive to the army base, and it’s close to all other in­dus­tries in Townsville.’’

Ms Geaney said south­ern in­vestors were also push­ing prices up be­cause of a low va­cancy rate.

“They can get more bang for their buck, and when you have things like the sta­dium be­ing built so close to the city, in­vestors can get a good re­turn,” she said.

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