Townsville outpaces the rest of the regional Queensland

The combination of affordability, lifestyle appeal, and economic development positions Townsville as an attractive market for both investors and home buyers.

Ray White Group Chief Economist Nerida Conisbee said there was nothing to suggest property prices would fall in Townsville in the near future.

“There is nothing on the horizon which will affect prices negatively in Townsville, or all of Queensland. The fact is we are not building enough here. There are still big issues in the construction industry and population growth is strong.“

Ms Conisbee said that while houses and units have increased at a very rapid rate in Brisbane, Townsville was the strongest market outside of south east Queensland, beating the Gold Coast over the last 12 months.

Townsville’s house price growth jumped almost $76,000 over the year to a geometric mean of $511,758, according Neoval data. This compared to a rise of more than $69,000 over the year to $488,237 in Central Queensland, and compared to a $66,000 rise on the Gold Coast to a geometric mean house price of $1,205,579.

Ray White Townsville principal Giovanni Spinella said price growth has been growing consistently in the region, fuelled by strong demand from buyers.

The unstoppable Ray White Townsville was in fact the No 1 Queensland Office For Number Of Sales 2024 plus the No 1 International Office For Number Of Sales 2024.

“I am so proud of our team, we did more sales last year than any other office in the biggest network in Australasia. It’s a huge achievement. No-one knows Townsville and the surroundings better than my team, and we are backed by the biggest name in the industry with the market leading technology.”

Gio Spinella said he didn’t see demand for residential property slowing any time soon.

“We’ve got the lowest supply we’ve ever had, the highest rental growth and we’ve got the greatest population growth in three years. That’s three positive signs demand will continue.”

“I expect Townsville's house prices will keep increasing this year, spurred on by the first rate cut in four years plus population influx, affordability compared to other cities, and significant infrastructure projects commencing in the region.

“Despite the upward trend, Townsville still remains relatively affordable, especially when compared to regional cities like the Gold Coast, where the mean house prices exceed $1.2 million.”