Townsville - Far North Queensland
Townsville ranks among the sturdiest regional economies in Australia. We always seek economic diversity in a property investment location and Townsville has more than most regional cities.
It has strong elements of government administration, education, defence, resources, health, tourism and manufacturing – plus an export port.
Its property market experienced an unbroken run of double-digit growth years from 2002 to 2007 – and, after experiencing some mixed fortunes in the past couple of years, is ready to resume its forward progress. A sign of market recovery is seen in the level of vacancies, which are declining as economic growth resumes.
Townsville’s comeback will be boosted by major projects across numerous industries. There are large mine developments, including Adani’s Carmichael coal mine, for which the HQ will be in Townsville; a sports stadium; a $1.9 billion CBD makeover; a $1.9 billion educational hub being driven by James Cook University; and $6.5 billion to be spent on residential developments.
Townsville is also receiving considerable economic impetus from growth in the city’s military economy and the expansion of the Port of Townsville.
This report covers the Townsville LGA including the suburbs of Townsville City, North Ward, Annandale, Cranbrook, Douglas, Kelso, Kirwan, Mt Louisa, Railway Estate and West End.