Townsville home prices trend up in January
Townsville home prices continued to climb in January with fresh data showing both unit and house values increased across the month.
Townsville home prices continued to climb in January with fresh data showing both unit and house values increased across the month.
The PropTrack Home Price Index shows the median Townsville dwelling price rose 25.22 per cent between January 2024 and January 2025 to sit at $516,000.
The average cost of a house was at $555,000 at the end of January, up 2.13 per cent for the month and 25.8 per cent for the year.
The average cost of a unit was sitting at $351,000, up 2.04 per cent month-on-month and 19.82 per cent year-on-year.
The report showed the median home price in wider regional Queensland was at a fresh peak of $715,000, up 0.02 per cent in January and 9.31 per cent across the past 12 months.
Brisbane home prices also hit a new peak, up 0.08 per cent last month to $871,000.
REA Group senior economist, Eleanor Creagh said Brisbane was the only capital market to record home price growth for the first month of 2025.
“Despite slowing growth, Brisbane was one of the strongest markets over the past year, as home prices sat 10.44 per cent higher year-on-year in January,” she said.
“Over the past five years, Brisbane home prices have risen 84 per cent to become the second-most expensive capital, ahead of Melbourne and Canberra.”
The national median home price dropped 0.08 per cent in January to $796,000 but remained 3.82 per cent higher year-on-year.
“National home prices fell in January, as the softer end to 2024 carried over into the new year,” Ms Creagh said.
“While housing demand remained resilient to persistent affordability constraints, the pace of home price growth slowed throughout 2024, culminating in small falls over the past two months.
“This softening in growth has occurred alongside a surge in stock for sale, giving buyers more choice and reducing the urgency to transact.”
Ms Creagh said affordability challenges, weaker economic conditions and the sustained higher interest rate environment were also contributors to slowing – and reversing – growth.
“With interest rate cuts on the horizon, the price falls seen over the past two months are likely to be short lived,” she said.
“As interest rates move lower this year boosting borrowing capacities, improving affordability and buyer confidence are expected to drive renewed demand and price growth.
“However, the stretched starting point for affordability will likely dampen the uplift in prices compared to prior easing cycles, resulting in the pace of home price growth trailing the strong performance of recent years.”
Originally published as Townsville home prices trend up in January