What about Townsville ?

[parra1]

Hi Guys,

I know there is a thread on Cairns but I thought I would throw a snippet from an article by Terry Ryder in the newspapers re Townsville and its future prospects :

The announcements since the new year have come so fast it's hard to keep up.

Stockland has been planning an expansion of its Townsville shopping centre for several years. It was ready to go when the global financial crisis started messing with people's heads. Now it's back on.

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I have one IP in townsville and looking at another. What are the thoughts of the good folk of SS. I agree with Terry that Townsville has a lot to offer long term ?

Any thoughts ?

 

[Sunfish]

I posted recently that Townsville's pop grew at nearly 4% to June '09 and that Lavarack Brks. is still expanding. Vacancy rates are v low and likely to get tighter.

You are right that things are happening but property prices here do not always reflect such activity. You can buy a 1012 sm block <1 km from Stockland (Myers is part of the expansion), easy access to the uni, Lavarack Brks, the hospital and the CSIRO (is said to be expanding) for $300 - $350 k (no reliable recent sales) and it would have of right approval for 2x2 and 2x3 (total of four) townhouses. That money would not get you a good development block anywhere else I know of.

Townsville is an awkward place which is almost always out of step with the rest of Oz, (prices stagnant in recent years) but you could do a lot worse when property investing.