Queensland offers exceptional value for money. Townsville is a top spot for buying or investing, with property values potentially rising 50% in three years.
Imagine waking up to about 300 sunny days a year, with stunning coastal views right by the Great Barrier Reef. You’d enjoy a great lifestyle surrounded by nature and community, with minimal commute times.
This could be your reality in Townsville.
Townsville is one of Australia’s hottest property markets right now. It’s booming because of high demand and a fast-growing economy that’s attracting big investments from both the public and private sectors.
Recent research shows that nearly 20% of city residents are thinking about moving to regional areas. Plus, around 50% feel that owning a home is out of reach. Townsville might just be the solution you’re looking for.
unmatched affordability
“There aren’t many places left in Australia where you can buy a house for $400,000 to $500,000, and Townsville is one of the few that still offers this,” says PropTrack senior economist Paul Ryan.
These prices are half of what you’d find in some capital cities, allowing you to cut your mortgage in half without sacrificing quality of life.
Just take a look at these comparisons.
| Category | Townsville | Sydney | Melbourne | Brisbane |
|---|---|---|---|---|
| Median House Prices | $427,500 | $1,421,413 | $941,698 | $920,046 |
| Median Weekly Rent | $490 | $759 | $569 | $632 |
| Average Private Education Fees | $8,564/year | $24,380/year (Australian Average) | $24,380/year (Australian Average) | $24,380/year (Australian Average) |
| Average On-Street Council Parking Fees | $1/hour | $7.20/hour | $4/hour | $6.15/hour |
Townsville isn’t just more affordable than the major capitals; it also leads in affordability among coastal regions. Over the past 12 months and the last 10 years, it has experienced strong price growth.
| Category | Townsville, QLD | Manly, NSW | Wynnum, QLD | Tamborine Mountain, QLD |
|---|---|---|---|---|
| Median Sale Prices | $445,900 | $4,410,000 | $1,190,000 | $1,020,000 |
| Change In Median Price (12-Months) | 4.7% | 2.6% | 24% | 7.3% |
| Change In Median Price (10-Years) | 90.8% | 130% | 129% | N/A |
Varied economy
With its varied economy and strong job market, Townsville and North Queensland offer great value.
The area hosts Australia’s largest Defence base, a top research and science center, valuable mining operations, global export agriculture, a diverse port, and major health and education facilities.
It is quickly becoming a renewable energy hub, with several green energy projects already underway and more planned for the future.
Economic growth
The total value of projects in North Queensland is estimated at $33 billion from 2024 to 2029. Over the next five years, more than 22,000 new skilled workers are expected to be needed in the area.
Additionally, the Queensland Government Population Projections predict that Townsville’s population will increase by about 33% over the next 20 years, growing from just over 198,000 to around 265,000.
Given all this, now is an excellent time to seize valuable real estate opportunities in Townsville.
We’ve discussed how affordable the region is compared to both capital cities and other coastal areas. Now, let’s look at some of the top-performing neighborhoods in Townsville that are worth exploring.
Kelso
Skirting the Ross River, Kelso stands out as one of Townsville’s top-performing suburbs for both homebuyers and investors.
In the past year, house prices have surged by 25%, reaching a current median of $413,000.
Kelso is gaining a reputation for its peaceful, family-friendly environment, with tree-lined streets and properties on large lots. It has a country feel but is still conveniently close to major amenities.
Located just over 20 kilometers from Townsville’s waterfront and surrounded by various local recreation areas, Kelso is appealing to homebuyers seeking space for their children to grow.
Vincent
With all the development taking place around Townsville, suburbs near the city center offer great opportunities for both homebuyers and investors, and Vincent is no exception.
Although house prices in Vincent have increased by 23.4% over the past year, it remains affordable for homebuyers with a median price under $360,000. Additionally, its 6.93% gross rental yield makes it an appealing choice for investors.
Vincent boasts quality schools and recreational parks. Located just 7 km west of the CBD and the lively Townsville foreshore, it is a popular choice for young families, professionals, and older residents.
Thuringowa Central
Thuringowa Central offers a relaxed lifestyle, great infrastructure, and is just 20 minutes from the coast, all without a high price tag.
It features popular shopping areas, vibrant dining options, and is known for its swimming lagoons, walking trails, and cultural events. This makes Thuringowa Central a strong choice for both homebuyers and investors.
Although house prices have risen by 22.1% over the past year, the current median of $435,000 is still affordable for many buyers. Rental yields are also attractive at 6.34%.
Wulguru
Nestled at the base of Mount Stuart, Wulguru is a peaceful, bushland suburb that people often stay in once they move there. It’s just a 14-minute drive from Townsville’s center.
Surrounded by wildlife, the properties here are usually on large blocks, providing privacy from neighbors while still being conveniently close to local amenities and services.
Near Lavarack Barracks, Wulguru is known for its close-knit community and family-friendly atmosphere, with easy access to schools and sports clubs.
Property prices have risen by 21.7% over the past year, and rental yields are at 6.41%, making it a popular choice for both homebuyers and investors.
No matter which suburb in Townsville matches your desired lifestyle, there are plenty of opportunities not only for excellent property investment but also for creating the life you’ve always dreamed of – the good life.
