HERRON TODD WHITE Month in review Sep 2013 Units located in North Ward have price entry in the sub $200,000 price category and are achieving good net returns. This market has, and continues to be affected by skyrocketing body corporate fees. This suburb is located within close proximity to the city centre and The Strand. Once body corporate issues are addressed/factored into the property market, there is reasonable potential for growth in this sector. Vincent, Currajong and Gulliver are older suburbs located within about seven kilometres of the city centre. Vincent comprises predominately ex DHA (Defence Housing Authority) style high set dwellings constructed circa 1960. Price entry to this suburb is between $220,000 and $250,000. Currajong and Gulliver comprise mostly circa 1950s style low set and high set timber framed dwellings with price entry for a dwelling in original condition from the mid $200,000s. These suburbs over recent years have started to see some regeneration as older homes are purchased by younger home buyers and renovated. This combination of location and regeneration reflect well for future capital growth. Kelso, Rasmussen and Condon have circa 1970s style high set timber framed homes with price entry from the low $200,000s. These areas are located about 25 kilometres from Townsville’s city centre. Historically these suburbs have experienced good rental returns. Deeragun is located within the northern beaches corridor to Townsville, approximately 20 kilometres from the city centre. Price entry into this suburb is from low $200,000s. Over recent years there have been substantial expansions in infrastructure to service the increasing population in the new land estates located on the opposite side of the Bruce Highway. These include new shopping centres, new primary and proposed secondary schools, aquatic centre, Bunnings and several fast food outlets. Overall the Townsville residential property market is at the bottom of this market cycle with preconditions for recovery in place. They are yet to spur the market into any observable impacts on price. With interest rates now at historically low levels, and median prices still soft, it is our belief that now is the time to buy to capitalise on the next upswing in the property market cycle.
Posted on: Mon, 23 Sep 2013 04:08:56 +0000
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