Townsville sees Queensland's largest fall in dwelling values: CoreLogic

Townsville sees Queensland's largest fall in dwelling values: CoreLogic
Townsville sees Queensland's largest fall in dwelling values: CoreLogic

The Townsville housing market has seen fewer homes transacting year-on-year, with 2,976 homes selling over the 12 months to February 2019, according to the latest CoreLogic Regional Report. 

The report reveals challenging property market performance across Australia’s region.

It suggests that the largest annual fall in both house and unit values for Queensland was seen in Townsville.

Townsville sees Queensland's largest fall in dwelling values: CoreLogic 

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Townsville sees Queensland's largest fall in dwelling values: CoreLogic

Source: CoreLogic

House values have fallen -4.8% over the year to March, while unit values are down -13.5% over the same period.

Townsville sees Queensland's largest fall in dwelling values: CoreLogic

Click here to enlarge:

Townsville sees Queensland's largest fall in dwelling values: CoreLogic

Source: CoreLogic

Looking at the Townsville rental market, advertised rents increased by $10/week for houses and $5/week for units when compared to March 2018.

The average time it takes to sell a house across Townsville has increased by three days, while the average unit is now selling three days faster than February 2018.

Vendor discounting is slightly higher when compared to 12 months ago with the average vendor discount increasing from -9.5% to -9.9% for houses and -9.3% to -9.9% for units.

Click here to enlarge: 

Townsville sees Queensland's largest fall in dwelling values: CoreLogic

Source: CoreLogic

Tags: 
Townsville Corelogic

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