Townsville: Market status
- Townsville is Australia's largest urban centre north of the Sunshine Coast which is expected to see its population increase by 75% from 180,114 to 314,362 between 2011 and 2036. Source: Queensland Treasury
- Townsville hosts a diverse economic base, with no single sector contributing more than 12.3% of Gross Regional Product during the 2012/13 financial year. Rental, Hiring & Real Estate Services (12.3%), Public Administration & Safety (11.1%), Manufacturing (10.7%), Construction (7.7%) and Health Care & Social Assistance (7.5%) are the major pillars in the local economy combining to contribute 41.8% of Gross Regional Product. This diversity of sectors creates both depth and stability to the economy.
- As the Australian economy rebalances in the wake of the 2012 mining boom, the focus is now shifting towards the bigger picture and ensuring future economic prosperity. As the largest city in Northern Australia at the new 'front door to Asia', Townsville is poised to lead a push towards attracting future trade and tourism investment by fostering Sister City relationships with the likes of Asia, Papua New Guinea, Hong Kong and Shanghai.
- According to Enterprise Townsville, a total of 44 major projects (values at $5M or greater) have recently been completed throughout Townsville City at an estimated value of over $1.8 billion since the 2013/14 financial year. The Townsville region also hosts a further 44 major projects that are currently under construction at an estimated value of $4.2 billion as well as a strong short to medium term pipeline of major projects valued at $42 billion.
Source: NPR Co.
Townsville LGA summary
For the most part, Townsville LGA’s housing market has endured a gradual correction since achieving a peak median sales price of $369,000 in 2011, bottoming at $342,000 thus far in 2015. However, the Townsville housing market is quite broad in terms of built form, locational attributes and level of new supply, with certain sectors outperforming others.
Fortunately, The Village is favourably positioned along the edge of Ross River just 3.5 kilometres from the Townsville CBD in the inner-south. New housing supply is much more limited in Townsville’s south compared to the north, which hosts the brunt of the regions new house and land projects and remains arguably in a state of oversupply. Accordingly, The Village is better positioned than many new housing projects in the north and is likely to continue to perform steadily as it competes mainly with the established market. A market that The Village holds a range of advantages over through greater quality and more modern housing, lower maintenance and a well thought out, community friendly masterplan.
The Village residential estate summary
Rental yield analysis