Home prices soar across Townsville – realestate.com.au

News Corp Australia Network

The Townsville property hot spots where prices have skyrocketed across the past year have been revealed, with growth pockets found across all sections of the market.

Topping the list was the house market in Horseshoe Bay on Magnetic Island where the median price jumped 44.1 per cent in the 12 month to June, up from $465,000 to $670,000.

Coming in second was the unit market in Mundingburra where a 40 per cent increase saw the average price go from $200,000 to $280,000 in the last financial year.

Third was Hyde Park with the median house price shooting up 35 per cent from $310,000 to $420,000.

The rural suburb of Jensen was fourth on the list with a median house price of $730,000, up 33.9 per cent from $545,000 a year ago.

Fifth place went to Saunders Beach where the median house price was up 23.6 per cent from $319,500 to $395,000.

Rounding out the top 10 were Idalia – units (up 22.6 per cent to $266,000), Nelly Bay – houses (up 19.8 per cent to $545,000), Garbutt – units (up 15.9 per cent to $230,000), Pallarenda – houses (up 15 per cent to $615,000) and Hermit Park – units (up 13.3 per cent to $205,000).

Jabyn Manning, of Ray White Townsville, said the local property market was continuing to perform well.

“I’ve noticed anything under $400,000 is getting strong inquiry, just based on price point and affordability,” he said.

“Anything above $500,000, location is the biggest differentiation on how it performs.

“Homes where owners are meticulous about presentation are getting great feedback and turnout.”

Mr Manning said demand was high with plenty of buyers in the market.

“I launched a property in Mundingburra – 36 Water St with offers over $549,000 – and I had 21 attendees through two inspections,” he said.

MORE NEWS: Qld’s biggest farm sales of the year

‘Intrigue’: 41 registered bidders for Townsville’s ‘Jumanji’ house

QLD unit markets among nation’s top 10 for growth

Mr Manning said the number of homes for sale was increasing heading into spring.

“Listings have been tight but people are gearing up for that end of year push,” he said.

“Sellers are wanting to get their move sorted before Christmas time.

“Our office at the moment has over 220 listing active on the market, so it will be a busy end of the year.

“I think the Townsville market will grow by another 5-10 per cent,”

Overall, the median house price in the Townsville region increased 5.4 per cent in the year to June to sit at $390,000.

The average house price was also up 2.6 per cent for the June quarter, 23.8 per cent from three years ago and 22.8 per cent from five years ago.

The unit market was steadier overall with a 0.3 per cent drop in the last financial year to a median price of $265,000.

This median was also down 8 per cent across the June quarter but up 15.2 per cent from three years ago and 2.7 per cent from five years ago.