Where Townsville home prices have surged
The Townsville suburbs where house prices have soared the most in the past three years have been revealed with some areas increasing by more than 80 per cent.
The Townsville suburbs where house prices have soared the most in the past three years have been revealed with some areas increasing by more than 80 per cent.
The latest property data from PropTrack showed the median house price in Townsville increased 41.4 per cent since January 2022 to sit at $526,000.
Vincent was the top performing suburb in the wider Townsville region with the average cost of a house up 81.7 per cent in the past three years to a new median of $445,111.
This was followed by Garbutt where the average house price jumped 80 per cent in the same time to $486,000.
Third was Saunders Beach where house prices shot up 75.6 per cent to a median of $525,000.
Rounding out the top five were Heatley, where the average house price was up 69.8 per cent to $450,000, and Cungulla, up 67.4 per cent to $385,000.
RELATED: Take a look inside Townsville’s cheapest house
Revealed: Townsville home to Qld’s fastest selling real estate
Broncos legend’s gift to fan after scoring $2.9m payday
Local real estate agent Sean Breitkreutz of Belle Property said the suburbs that made the list were Townsville’s more affordable areas, once popular with first homebuyers but now sought after by investors.
“Those suburbs used to be big for first time buyers but are now out of their budget,” he said.
“Those first homebuyers have been pushed to units in and around the city.”
Mr Breitkreutz said investor interest in the Townsville market had driven up prices in the low end of the market.
“Investors from down south see Townsville homes as being half priced compared to other city centres,” he said.
“So while prices have been going up, investors still see exceptional value.
“Local owner occupiers are still looking, at the open home it’s owner occupiers who turn up, but the bulk of offers are from out-of-towners.”
Mr Breitkreutz said he predicted the price rises would continue in the Townsville market.
“There is no chance of that slowing down considering the shrinkage of stock availability I’m seeing,” he said.
“In the Townsville greater region there are only about 990 properties for sale at the moment and once you narrow that down to houses, there are only about 350 houses for sale in the greater region.
“That’s some of the lowest numbers Townsville has seen.
“While stock is low the pressure will remain on prices.”
The average cost of a unit in the Townsville region also increased in the past three years, up 23.7 per cent to $334,000.
Railways Estate units increased in price the most, with the median up 66.6 per cent to $311,500 since January 2022.
Next was Garbutt where the median unit price rose 58.7 per cent in the past three years to sit at $315,000.
Third was Aitkenvale, where the average cost of a unit was up 53.3 per cent to $346,500, followed by Hyde Park, up 52.3 per cent to $268,475, and Nelly Bay, up 51.5 per cent to $392,500.
WHERE TOWNSVILLE HOUSE PRICE HAVE INCREASED THE MOST
| Suburb | Median price | 3-year-change |
| Vincent | $445,111 | 81.7 |
| Garbutt | $486,000 | 80 |
| Saunders Beach | $525,000 | 75.6 |
| Heatley | $450,000 | 69.8 |
| Cungulla | $385,000 | 67.4 |
| Rasmussen | $436,000 | 65.5 |
| Picnic Bay | $610,000 | 64.3 |
| Balgal Beach | $465,000 | 62.3 |
| Nelly Bay | $607,500 | 58.6 |
| Kelso | $451,000 | 56.7 |
(Source: PropTrack)
WHERE TOWNSVILLE UNIT PRICE HAVE INCREASED THE MOST
| Suburb | Median price | 3-year-change |
| Railway Estate | $311,500 | 66.6 |
| Garbutt | $315,000 | 58.7 |
| Aitkenvale | $346,500 | 53.3 |
| Hyde Park | $268,475 | 52.3 |
| Nelly Bay | $392,500 | 51.5 |
| Pimlico | $277,750 | 50.1 |
| Mundingburra | $307,500 | 48.2 |
| Cranbrook | $230,000 | 43.8 |
| Hermit Park | $255,000 | 41.7 |
| Kirwan | $340,000 | 41.7 |
(Source: PropTrack)
Originally published as Where Townsville home prices have surged