Weak local economy causes home values to fall in Townsville region: CoreLogic

Weak local economy causes home values to fall in Townsville region: CoreLogic
Weak local economy causes home values to fall in Townsville region: CoreLogic

Sales activity across Townsville has been trending lower over the past few years and the most recent 12 month period is no exception, with 10.4 percent fewer transactions over the 12 month period ending May 2016 when compared to the year ending May 2015, according to CoreLogic's regional market report.

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Weak local economy causes home values to fall in Townsville region: CoreLogic

Over the past five years, Townsville has averaged 3,778 sales annually, which is much lower than the 5,202 over the preceding five year period.

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Weak local economy causes home values to fall in Townsville region: CoreLogic

More recently, Townsville home values have fallen on the back of a weak local economy, down 4.5 per cent for houses to $317,125 and 3.7 per cent lower over the year for units, with the typical unit value currently sitting at $254,381.

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Weak local economy causes home values to fall in Townsville region: CoreLogic

Townsville home values are currently lower than they were five years ago.

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Weak local economy causes home values to fall in Townsville region: CoreLogic

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Townsville Corelogic

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