Townsville house prices on the up as market continues to boom

Townsville’s real estate market has been consistently hot for the past nine months, with houses selling at ridiculous speed. Many suburbs have experienced a huge rise in house value, and you might be sitting on a gold mine. SEE WHAT YOUR HOUSE IS WORTH IN OUR INTERACTIVE SEARCH>>>

Townsville’s real estate market has been consistently hot for the past nine months, with houses selling at ridiculous speed.

Many suburbs have experienced a huge rise in house value, and you might be sitting on a gold mine.

Interstate migration and lifestyle changes are key factors driving the boom, according to property experts.

The Townsville property market has been hot.

New data has revealed house prices have soared in most suburbs in the last 12 months, including North Ward, the city’s second most expensive suburb.

North Ward, which had a median house sales price of $702,980 in June, shares many of the same views and amenities as blue-chip Castle Hill, which had a median price of $933,426.

Ray White’s Julie Mahoney said last month the market, overall, was performing strongly.

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Ms Mahoney said that while local buyers were the biggest market, there had been a noticeable increase in people relocating from Brisbane, in particular, and “plenty of inquiry” from Melbourne.

Drone aerial view Townsville generic: Mundingburra electorate. PICTURE: ASHLEY PILLHOFER.

Idalia and Oonoonba saw the sharpest rise in Townsville, with houses up 16.5 and 15.7 per cent respectively.

Around the region, the median price for a house in Ayr was $203,520, up 12 per cent, while down the road in Home Hill prices went crazy, jumping more than 23 per cent.

Charters Towers’ prices went up 14.3 per cent, with the median value now $175,132.

To the north, houses in Ingham also went up by more than 10 per cent, to $143,644.

As for the price of units, Rosslea apartments went up a staggering 27.4 per cent to $178,045.