Townsville

The Smartline Report – June Edition

The month in review: Townsville

By Herron Todd White
June 2015

At the halfway mark of 2015, the residential property market has to date remained relatively unchanged from the beginning of the year.

Unemployment in the region remains higher than the state average, while business confidence in Townsville during the second quarter of 2015 has continued to improve with a slight uplift in the index according to the PwC Townsville Business Confidence Survey.

Anecdotal evidence suggests that the renovation market has seen more activity of late, potentially attributed to the low cost of finance and the availability of tradesmen in the current environment.

Older established units have also seen reasonable interest due to the low price entry, particularly units priced below $200,000 along with duplex or maisonette style properties that offer increased utility by way of dual income or live in one side and derive an income from the other.

The residential rental market has remained in oversupply into 2015, with a slight increase in the overall trending vacancy rate between January and April 2014 from 5.2% to 5.4%. There continues to be break-leases evident and incentives being offered by way of free weekly rent to entice tenants.

Overall the market remains cautious, with the level of activity being very much dictated by local economic factors

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Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © Smartline Home Loans P/L 1999 – 2015. Australian Credit Licence Number 385325

 

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