A modern home beckons owner occupiers for $500,000 in Queensland’s Townsville: HTW
With the median house price in Townsville currently trending at around $330,000, an investment of $500,000 will net you a good quality modern home in desirable residential suburbs or a renovated house within the inner city suburbs, say valuation firm Herron Todd White in their July 2016 residential market report.
“Our suggestions from 12 months ago have not changed much with the median price and market sentiment softening during this period making it very much a market for owner occupier buyers,” says HTW.
Following the recent announcement of federal funding from both sides of government for the proposed CBD stadium and entertainment precinct, houses in the inner city localities of South Townsville, North Ward and Belgian Gardens would be a desirable location for a $500,000 investment. These suburbs typically have renovated older style houses, typically on traditional sized lots within close proximity to the CBD and The Strand.
Other suggested localities include the middle class suburbs of Idalia, Annandale and Douglas.
"For $500,000 you could buy a good quality masonry block constructed home within a modern residential estate featuring lifestyle facilities such as parks and walking and bike paths," says HTW.
These areas are also within close proximity of major employment hubs including Lavarack Army Barracks, Townsville Hospital and James Cook University.
Property Observer found a two-bedroom, two-bathroom inner city apartment around the median price on www.realestate.com.au at 1206/106 Denham Street, Townsville City, Qld, which recently exchanged hands for $355,000.
