Fringes on Queensland's Townsville offer affordable entry to home buyers: HTW
Queensland's Townsville city was at the bottom of the market cycle in both April and May in valuation firm Herron Todd White's property clock -- a simple broad brush means of suggesting where property markets are and what direction they're headed.
Affordability concerns continue within the Townsville market with buyers only purchasing properties they regard as affordable based on their current economic circumstances. Job security, high unemployment and the absence of any local stimulus or broader economic drivers would indicate little change from this position in the short term. The residential market remains stationary at the bottom of the market cycle.
While not limited to these suburbs, the fringe areas of Condon, Burdell, Deeragun and Mount Low offer affordable entry levels for basic semi-modern homes.
Condon is in the south-western suburbs within five kilometres of Willows Shopping Centre and is easily accessible to major employment hubs of the Townsville Hospital, James Cook University and Lavarack Army Barracks via the Townsville Ring Road. Condon comprises a mixture of housing styles including semi modern on-ground masonry block and high set timber framed dwellings of fair to average condition. Pockets of this suburb have perceived social issues and a reasonable amount of government housing. Price entry into this suburb is from the low $200,000s.
Burdell, Deeragun and Bushland Beach are located within the expanding northern beaches corridor. Over the past few years there have been major expansions in infrastructure and services along this corridor including fast food, shopping centres, schooling and strip retail centres. Deeragun comprises a mixture of dwelling types from basic to modern on ground homes. This suburb has some perceived social issues and price entry is from the low $200,000s. The areas of Burdell and Mount Low generally comprise more modern homes with price entry from the high $200,000s to low $300,000s.
Overall there remains affordable buying in all sectors of the residential market if you are willing to shop around. The secondary suburbs where there are perceived social issues offer some good buying, with the trade-off between value for money and these perceived issues posing consideration. Outer lying suburbs also offer some good value for money in the bottom of the market position with an oversupply of property available relative to current demand.
Property Observer looked up some recently sold properties in the $200-$300,000 range on realestate.com.au and came up with these:
1. A three-bedroom house with a pool at 133 Pinnacle Drive Condon Qld 4815 was traded at $255,000.
2. A four-bedroom house at 79 Lady Musgrave Circuit Burdell Qld 4818 sold for $300,000.