Townsville Property Report

2013 TOWNSVILLE 2014 PROPERTY REPORT

A word from Brad Matheson

It’s been an exciting year for real estate in Townsville with momentum building as buyers are being priced out of the capital cities and are seeing Townsville as offering better value.

While our recovery is off to a slower start than the capital cities, present indications suggest that 2014/2015 is likely to be the first year of the next growth cycle. The market over the past 12 months has been steady and demand from investors and upgraders has been increasing. The number of house sales has risen compared to the previous year however the number of apartment sales has decreased.

Rental yields are a very attractive 5% for both apartments and houses, which combined with extremely competitive home loan interest rates, have resulted in more investor activity from both locals and southerners in 2014. The results in the premium end of the market are raising confidence with 17 properties sold for $900,000 and above this financial year.

After 17 years with another group, this year our business rebranded and became part of the McGrath Estate Agents network. As the owner of this business and after 25 years in the Townsville real estate market, I wanted to raise the bar and provide six-star marketing and services to our clients. To maximise our sales results and our investors rental returns, we needed to do more than what the Townsville market had witnessed in the past. Our recent record prices are a result of the quality services McGrath Townsville supports our clients with.

Please enjoy this report and I hope it assists in keeping you abreast of the real estate market in our wonderful city.

Brad Matheson Principal D 07 4781 0502 M 0418 777 670 E bradmatheson@mcgrath.com.au

Top 20 Townsville Sales - Financial Year 2013/2014* Address

Bed

Bath

Car

Sold Date

Land Size

Sale Price

1

3/5C Mariners Drive, Townsville City

3

2

2

3 Mar 14

295sqm

$2,250,000

2

1202/69-77 Palmer Street, South Townsville

3

3

-

7 Mar 14

345sqm

$2,160,000

3

10 Stanton Terrace, Townsville City

4

4

2

6 Sep 13

1,012sqm

$1,500,000

4

6 Norfolk Place, Douglas

4

2

2

11 Oct 13

708sqm

$1,245,000

5

65 The Strand, North Ward

4

1

1

24 Jun 14

674sqm

$1,200,000

6

42 Leichhardt Street, North Ward

4

3

2

19 Sep 13

1,012sqm

$1,110,000

7

3 Stirling Drive, Castle Hill

3

2

2

17 Jan 14

759sqm

$1,100,000

8

210/72-74 The Strand, North Ward

3

2

4

28 Aug 13

224sqm

$1,005,000

9

20 The Point, Castle Hill

5

3

2

16 Jan 14

605sqm

$980,000

10

4 Balmoral Drive, Castle Hill

4

3

2

17 Feb 14

668sqm

$975,000

11

21 Ashburton Place, Douglas

5

2

2

6 Dec 13

1,069sqm

$965,000

12

76 Yarrawonga Drive, Castle Hill

4

2

5

7 Feb 14

779sqm

$960,000

13

199A Denham Street, North Ward

4

2

1

23 Dec 14

506sqm

$940,000

14

44 Springbrook Parade, Idalia

4

2

3

24 Apr 14

768sqm

$940,000

15

7 St James Drive, Belgian Gardens

4

3

3

10 Feb 14

741sqm

$930,000

16

12 Queens Street, North Ward

5

3

4

4 Sep 13

532sqm

$915,000

17

111 Yarrawonga Drive, Castle Hill

4

2

2

28 Feb 14

994sqm

$900,000

18

9 Stanton Terrace, Townsville City

4

2

4

6 Dec 13

627sqm

$880,000

19

2 Seaview Court, Castle Hill

4

2

1

16 Dec 13

1,203sqm

$875,000

20

13 Braemar Crescent, Castle Hill

3

3

3

15 May 14

734sqm

$860,000

* Settled sales The information in this report is being provided by Australian Property Monitors, RP Data and MARS (McGrath’s CRM System), its accuracy cannot be guaranteed. Parties should rely on their own enquires and McGrath will not be liable for error or admissions herein.

Number of Houses and Apartments Sold in Townsville 3,000

Houses

Apartments

2,500

2,000

1,500

1,000

500

0 2005

2006

2007

2008

2009

2010

2011

2012

2013

Median House and Apartment Prices by Postcode Houses

Apartments

$221,875

4810

$307,500

$221,875

4811

$307,500

$195,000

4812

$301,750

$289,000

4814

$373,000

$323,750

4817

$452,500

$0

$50K

$100K

$150K

$200K

$250K

$300K

$350K

$400K

$450K

$500K

McGrath Property Management

LEASED NORTH WARD Eyre Street

LEASED $390 per week

IDALIA Eastlake Avenue

LEASED GARBUTT Meenan Street

$450 per week

LEASED $400 per week

BELGIAN GARDENS Bundock Street

$520 per week

Maximising your investment return Are you achieving the best possible return on your investment?

• At McGrath your property reaches more prospective tenants through our award winning website as well as realestate.com.au and the highest priority listing on domain.com.au • Our team of highly experienced Property Managers analyse the market to do regular rent reviews ensuring you are always getting the best rental return • With a network of 60 offices, we are able to utilise our extensive contacts and database to attract more quality tenants • Thorough ongoing condition reports, routine property visits and constant monitoring by our highly trained team means your investment is in safe hands If you would like to speak to McGrath Property Management in relation to our service contact Jennifer Stockman on 07 4781 0544.

Jennifer Stockman New Client Consultant D 07 4781 0544 M 0400 031 285 E jenniferstockman@mcgrath.com.au

“We recently engaged McGrath Estate Agents to sell our home at 202/3 Melton Terrace and the agent was the ultimate professional.

Dedicated to clients, enthusiasm in the process, results driven. Nothing was too much trouble; they kept us up to date by email, text and phone. The result achieved was exactly what they said she could if we went with the McGrath marketing strategy. We would highly recommended McGrath to anyone thinking of selling their property.”

Steve and Chris Polkinghorne – 202/3 Melton Terrace, Townsville City

Median Price Movement for Houses and Apartments in Townsville Houses

$600K

Apartments

$500K

$400K

$300K

$200K

$100K

0 2005

2006

2007

2008

2009

2010

Where do the buyers come from?

Local

2%

Interstate

12%

QLD Overseas

16%

70%

2011

2012

2013