Patchy sometimes, but Townsville's residential market has a positive market sentiment: HTW

Patchy sometimes, but Townsville's residential market has a positive market sentiment: HTW
Patchy sometimes, but Townsville's residential market has a positive market sentiment: HTW

Townsville's residential market has confidence with a positive market sentiment.

The inner city 4810 postcodes remain buoyant with inner-City Projects including the Townsville Stadium and proposed waterfront precinct being positive factors.

The present market is highly suburb selective, with reasonable turnover levels in the sought after mid to inner suburbs.

But there are patchy sales in other areas and suburbs with perceived social issues, according to the June report from valuation firm Herron Todd White.

During 2018, the trending rental vacancy rate has remained in a balanced market range with the overall trend vacancy rate at just over 3%.

The report noted that, this is significantly lower than the prevailing trend in vacancy rate for the similar period of 2017 at 5.52%.

The unit market is currently steady, albeit at low volumes, with some resistance still being experienced due to the holding costs associated with unit ownership including body corporate fees and high insurance costs.

The valuers at HTW forecast that the remainder of 2018 will remain similar to what has been seen to date so far, with any changes to demand or sentiment heavily reliant on factors such as unemployment, job security and population growth.

Tags: 
Townsville Residential Market Trends

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