Infrastructure the key to city’s future
ONE of the country’s leading property analysts says infrastructure spending will inevitably lead to Townsville’s property market recovering.
Hotspotting founder Terry Ryder is tipping Townsville will be the next Sunshine Coast as billions in projects leads to population growth and an increase in demand for housing.
He will be in Townsville on November 9 to speak at the Urban Development Institute of Australia’s Heads Up: Hot Property Townsville.
Mr Ryder said he was positive about the city’s future despite prices not yet stabilising.
“The only other regional city in Australia with as much infrastructure and property development in the pipeline would be the Sunshine Coast,” he said.
“You are going to see growth because you can’t have that level of infrastructure investment without the property market responding.
“When you look at the full list of projects they won’t all go ahead but if so much as even half of it happens it will be massive for Townsville.
“If you look at the current numbers of Townsville’s property market they’re not particularly flattering figures and property prices have gone backwards but we’re always looking to the future and right now we think Townsville is a very good buy so that’s where the smart investors will be buying.”
Mr Ryder said the Sunshine Coast was a prime example of the impact infrastructure investment could have on a regional city.
The Sunshine Coast is being heralded as the hottest place to invest by real estate heavyweights such as John McGrath. The region is experiencing an infrastructure boom with billions being invested in upgrading and creating new facilities.
Mr Ryder said the raft of projects would result in people being lured to Townsville for work and while some will only stay for a short time, others will make a permanent move due to the lifestyle and climate which would in turn increase demand for housing.
“From our many years of research we know that infrastructure spending is one of the most pivotal things in driving residential property markets,” he said. “It creates a lot of economic activity and out of that comes jobs.
“When people are getting employment they start to think about where they are going to live whether that be renting or buying. It will boost the property market.”
Mr Ryder will be joined at Heads Up: Property Townsville by Propertyology founder Simon Pressley.
UDIA CEO Kirsty Chessher- Brown said the event was a great chance to hear from property experts.
“Development is critical to the local economy delivering over $ 1.9 billion in gross re- gional product and creating over 15,000 direct and indirect jobs,” she said.
“These jobs cost the industry $ 471 million in wages and salaries that are taken home by local workers.”
The event will be held on Friday, November 9, from 3pm at Townsville Brewing Co, 252 Flinders St. Tickets ts start at $ 65 for members.
For more information visit it www. udiaqld. com. au.