Revealed: Townsville home to Qld’s fastest selling real estate
Houses are selling faster in Townsville than any other Queensland region with new data revealing the NQ capital recorded an average time on market of just 15 days. See the suburbs where homes are selling quickest.
Houses are selling faster in Townsville than any other Queensland region with new data revealing the NQ capital recorded an average time on market of just 15 days.
The latest PropTrack figures showed the median time on market for Townsville houses dropped from 34 days in January 2023 to just 15 days in January 2024.
In the same time, the median Townsville house price skyrocketed 23.8 per cent to $526,000.
Rockhampton was the Queensland region with the second lowest sale time for houses at 16 days on average, followed by Mackay (20 days), Ipswich (21 days) and Cairns (23 days).
Ray White Townsville principal, Giovanni Spinella said high demand in Townsville was pushing down days on market.
“Typically in the $450,000-$600,000 bracket, we’re seeing transactions in the first seven days of being on market,” he said.
“Anything that is sub-$500,000, you can essentially sell in the first day with the amount of enquiry we get.
“If we advertise something at lunchtime we’ll have enquiries 30 minutes later and we get a lot of calls from people wanting to see a property before the first open home.
“They know if they don’t see it quickly, they’ll have an investor making an offer sight unseen.”
Mr 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,” he said.
“That’s three positive signs demand will continue.”
On a suburb level, Cosgrave had the fastest selling houses in Townsville at six days on average.
Coming in second were Deeragun and Hyde Park, at seven days, followed by Heatley (eight days) and Douglas (nine days).
The PropTrack data showed there were 33 Townsville suburbs where houses sold in less than 20 days in January, while a year earlier just one suburb had a sub-20 median days on market.
Mr Spinella said there were a few different factors pushing down selling times in the top five suburbs, such as affordability in Heatley.
“Cosgrove and Deeragun are a bit further from the CBD so there is a price point factor there, too,” he said.
“Hyde Park is a low stock location, there’s only a handful of homes on the market at any one time, so that’s demand driven rather than price driven.
“Douglas has long been renowned as a suburb that holds its own in the Townsville market.
“It has three of the biggest employers in Townsville nearby – Townsville University Hospital, Lavarack Barracks and James Cook University – so demand is workforce driven.”
In the unit market, the Townsville region was sitting seventh in the state when it came to median time on market with properties selling in 25 days on average.
Number one was Ipswich, at 17 days, then Logan (21 days), Scenic Rim (22 days), Redland and Toowoomba (23 days) and Cairns (23 days).
Originally published as Revealed: Townsville home to Qld’s fastest selling real estate