A combination of affordability, lifestyle appeal, and economic development has positioned the city as a prime destination for both investors and homebuyers.
Ray White Group Chief Economist Nerida Conisbee attributed the sustained growth in Townsville’s property market to a lack of housing supply and strong population growth.
“There is nothing on the horizon which will affect prices negatively in Townsville, or all of Queensland. The fact is we are not building enough here. There are still big issues in the construction industry and population growth is strong,” Ms Conisbee said.
While Brisbane has seen rapid property price increases, Townsville has emerged as the strongest market outside of South East Queensland, surpassing the Gold Coast in house price growth over the past 12 months.
According to Neoval data, Townsville’s house prices increased by almost $76,000 over the year, bringing the geometric mean to $511,758.
In comparison, Central Queensland saw a $69,000 rise to $488,237, while the Gold Coast’s mean house price rose by $66,000 to $1,205,579.
Ray White Townsville principal Giovanni Spinella confirmed that price growth in the region has been steady, driven by strong buyer demand.
Ray White Townsville was recognised as the No. 1 Queensland Office for Number of Sales in 2024, as well as the No. 1 International Office for Number of Sales within the Ray White network.
“I am so proud of our team. We did more sales last year than any other office in the biggest network in Australasia. It’s a huge achievement,” Mr Spinella said.
Alongside his brother, Santo Spinella, Mr Spinella leads the top-performing Ray White Townsville office.
He does not expect demand for residential property in the region to slow any time soon.
“We’ve got the lowest supply we’ve ever had, the highest rental growth, and the greatest population growth in three years. Those are three key indicators that demand will continue,” he said.
Mr Spinella also expects Townsville’s house prices to keep rising throughout 2025, bolstered a continued population influx, its affordability relative to other cities, and major infrastructure projects set to begin in the region.
“Despite the upward trend, Townsville remains relatively affordable, especially compared to regional cities like the Gold Coast, where the mean house price exceeds $1.2 million,” he said.
