Million-dollar suburban homes to be the norm in Townsville by 2030
Townsville could be home to 13 million-dollar suburbs by 2030 if the surging pandemic boom price growth continues for another five years.
Townsville could be home to 13 million-dollar suburbs by 2030 if the surging pandemic boom price growth continues for another five years.
Exclusive PropTrack analysis forecasted 12 markets across the wider Townsville region would at least double, as the average unit and house price for most suburbs was predicted to rise.
Topping the list was the Home Hill house market where the median price was expected to skyrocket 165 per cent by 2030, from $265,000 to $702,000, based on trends since the pandemic boom.
Meanwhile, Charters Towers City would likely see the average cost of a house hit $543,000, up 124 per cent from the current median of $243,000.
Sitting in third place was the Hermit Park unit market with the average sale price looking to shoot up 116 per cent, from $270,000 to $583,000.
Rounding out the top five were the Heatley house market, predicted to surge 115 per cent to $998,000, and the Rasmussen house market, up 114 per cent to $986,000.
The suburbs of Idalia, Annandale, Jensen, Hermit Park and Alice River were among 13 tipped to hit a median house price of more than $1m.
North Ward was the only suburb poised to crack the $2m mark, with house prices forecasted to increase 108 per cent to $2.366m by 2030.
Keys and Co Property director Damien Keyes, said he expected Townsville home prices would continue to trend up across the next five years, but by how much was anyone’s guess.
“It’s impossible to predict how the market will go – no one saw the 30 per cent price growth we saw in some suburbs in 2024 – but I’d like to think we’ll see increases,” he said.
“The prediction was that we’d see strong price growth this year and so far that’s been happening.
“It’s a far cry from the dark old days of 2013 through to mid-2019.”
Mr Keyes said city fringe markets such as North Ward and Castle Hill through to premium suburbs such as Hermit Park and Annandale had performed incredibly well since 2020 and he expected that to continue.
“Buyers are seeing value in those areas because you can’t get vacant land and the cost to build a new home has significantly risen,” he said
“That’s creating a bigger gap between what it cost to build versus what it costs buy.
“Established home prices will continue to grow unless those building prices come down, and I don’t see that happening any time soon.”
Mr Keyes said the upper end of market wasn’t the only segment seeing strong growth.
“The investor market has been running strongly for the last two years and that’s typically properties priced $650,000 and under,” he said.
“I expect that to run strongly to the end of the year at least.
“Then there’s the buyers in that second and third home market.
“They’re in that $900,000 to $1m, which was not as attainable five or six years ago.
“Now those prices are becoming more common in Douglas and Annandale and other parts of suburbia.
“Hermit Park has seen some massive prices that they haven’t seen before
“I sold 7 Inlet Retreat in Douglas for a suburb record of $1.65m in 2023 and 1 Escort Pl, Annandale, for $1.725m in 2024, which was the second highest sale price for the suburb.”
The PropTrack analysis showed the smallest price hikes in the Townsville region were predicted for the unit markets in Townsville City (14%), South Townsville (19%), Railway Estate (26%) and Ayr (28%).
TOWNSVILLE SUBURBS PREDICTED TO HAVE A $1M+ HOUSE PRICE BY 2030
| Suburb | Property type | Current med price | 5 year % change | Med price 2030 |
| North Ward | House | $1,140,000 | 108% | $2,366,000 |
| Jensen | House | $809,000 | 93% | $1,558,000 |
| Alice River | House | $805,000 | 56% | $1,252,000 |
| Annandale | House | $652,000 | 67% | $1,086,000 |
| Deeragun | House | $505,000 | 110% | $1,063,000 |
| Idalia | House | $683,000 | 55% | $1,056,000 |
| Thuringowa Central | House | $511,000 | 104% | $1,042,000 |
| South Townsville | House | $573,000 | 82% | $1,040,000 |
| Garbutt | House | $490,000 | 111% | $1,033,000 |
| Wulguru | House | $505,000 | 102% | $1,020,000 |
| Bushland Beach | House | $621,000 | 63% | $1,016,000 |
| Hermit Park | House | $559,000 | 80% | $1,006,000 |
| Burdell | House | $575,000 | 74% | $1,002,000 |
TOWNSVILLE REGION PRICE PREDICTIONS – 2030
| Suburb | Property type | Current med price | 5 year % change | Med price 2030 |
| Home Hill | House | $265,000 | 165% | $702,000 |
| Charters Towers City | House | $243,000 | 124% | $543,000 |
| Hermit Park | Unit | $270,000 | 116% | $583,000 |
| Heatley | House | $463,000 | 115% | $998,000 |
| Rasmussen | House | $461,000 | 114% | $986,000 |
| Garbutt | House | $490,000 | 111% | $1,033,000 |
| Deeragun | House | $505,000 | 110% | $1,063,000 |
| North Ward | House | $1,140,000 | 108% | $2,366,000 |
| Nelly Bay | Unit | $445,000 | 107% | $921,000 |
| Thuringowa Central | House | $511,000 | 104% | $1,042,000 |
(Source: PropTrack)
Originally published as Million-dollar suburban homes to be the norm in Townsville by 2030