Townsville STILL booming

S

Sunfish

One the city's biggest REs is doing a highrise on the Strand. Put up his notice requesting expressions of interest early in the week. Had 500 phone calls within days, over 100 paid the $1,000 deposit for the contracts and 80 have been sold already. Only 13 remain.

Completion must be 18 months away at least. :) Million dollar apts are becoming commonplace.
 
Yes I couldn't agree more Sunfish. I purchased a couple of properties in Kirwan about 3 years ago & all i ve noticed is that the rent keeps going up as well as the property price:)
I'm from Adelaide & went up there because of the great returns back then, but never did I expect what is happening. I couldn't have written the script better if I tried.
I love the place & will probably retire up there later in life. I friend just got back from there & said I wouldn't recognise the place as it has changed so much.
I also read today in "The Bulletin" that Magnetic Island is starting to take off.
It all sounds great.
Anyway - must go.

Regards,
Claude
 
Maggie starting to take off, bloody hell mate, I was getting bombarded with stuff 2 years ago for Bright Point and Blue something or other.

Lusted for a unit with a 15 multihull metre berth, but exposed to the S/E Trades, not good.

Kirwan, as a kid I lived in 2 Tinglewood st, what a great adventure playing underground through the maze of giant pipes that were obviously sewers or drains for the next suburb.

Many fond memories of Townsville.

Dave

PS, Just noticed your a new Poster Claudes, welcome aboard.
 
Last edited:
claudes said:
Yes I couldn't agree more Sunfish. I purchased a couple of properties in Kirwan about 3 years ago & all i ve noticed is that the rent keeps going up as well as the property price:)
I'm from Adelaide & went up there because of the great returns back then, but never did I expect what is happening. I couldn't have written the script better if I tried.
I love the place & will probably retire up there later in life. I friend just got back from there & said I wouldn't recognise the place as it has changed so much.
I also read today in "The Bulletin" that Magnetic Island is starting to take off.
It all sounds great.
Anyway - must go.

Regards,
Claude
Click to expand...

I went up there mid year and love the place too. I can see myself retiring in Townsville.

There is also an article on Magnetic Island in the current issue of API.

YLC
 
Bump

I'm bumping this thread in response to a few others at the moment where the wisdom of PI is being questioned, at least in the med term (there is no short term in property).

But I am now willing to call a peak in Townsville. :) The city is still booming but so too is Perth and it seems it is cooling, property-wise.

I'm been watching the canary closely and it not as well as it was. Maybe I should clarify that and admit that I don't study the RE market closely. I do however keep my eyes and ears open and I don't hear the canary singing anymore and it looks a bit wobbly. Not hanging upside down though, I'll admit.

Remember, dance close to the exits! :D
 
Sunfish said:
I'm bumping this thread in response to a few others at the moment where the wisdom of PI is being questioned, at least in the med term (there is no short term in property).

But I am now willing to call a peak in Townsville. :) The city is still booming but so too is Perth and it seems it is cooling, property-wise.

I'm been watching the canary closely and it not as well as it was. Maybe I should clarify that and admit that I don't study the RE market closely. I do however keep my eyes and ears open and I don't hear the canary singing anymore and it looks a bit wobbly. Not hanging upside down though, I'll admit.

Remember, dance close to the exits! :D
Click to expand...

Sunfish,

Do you mind if I ask why you think Townsville market is at a peak? It looks like there's not enough properties to house all these people moving up there?

Cheers
Yolande
 
Correct Yolande. I ve was told that the Uni was setting up tents on the oval to house students! Also, It amazes me that Townsville holds open inspections for tennants! Imaging wanting to renting out your place & you have 30 people wanting to get in!

I believe that there are a couple of large pieces of land that will shortly be released to ease the burden.
 
Sunfish said:
Remember, dance close to the exits! :D
Click to expand...

Why,

are you expecting suddenly that there will be no tenants?
are you suddenly expecting a miraculous glut of property?
Is big business pulling out of town?

or

are you expecting a gradual slowing?

if a gradual slowing ie: Townsville goes off the boil, is that any reason to be dancing close to the exits, jumping ship or cashing in your chips?

Dave
 
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