QLD Townsville - Prospects for CG and rental yields

Would like to get some base information on buying an investment property in Townsville.
What are the prospects for capital growth and which suburbs in Townsville should I consider if i were to buy. Basically I am looking for a good property(house) where I can rent it out quickly , have good tenanats? Please suggest suburbs for capital growth in the next 5 to 8 years.
Thanks.

 

B

bump

 

a budget and yield expectations would be a good starting point so people can offer advjce

 

Editing to add the budget

 

Can I ask why you are looking at Townsville?

 

Good question that’s why I’m here to know why

 

Wow I thought all the suburbs in the Ville were below $550k

 

for your budget
north ward only

 

Anyone bought in Townsville recently? Are all areas affected by recent flooding events?

 

My son just bought a duplex there. Not all areas are affected by flood including his. The council have a simulated flood map you can look at which gives a good idea.

 

Thanks lollie. I will check it out.

 

Of course the entire town doesn't flood, Look at the council flood maps on their website, its free and provides a very clear picture of the risk areas

 

Be warned that the current council flood maps have not been updated since the 2019 floods. Some of the most heavily effected areas such as Idalia, Rosslea and Railway estate are still showing minor to no flooding.

For CG I’d stick with a house around North Ward although it’s been difficult to find any good places for a long time. There is massive supply of house and land packages in outer suburbs like Shaw, North Shore, Harris Crossing, Rasmussen etc. which keeps the prices down. Obviously also beware of insurance, I didn’t realise how bad it had gotten after the floods until I needed to change mine 2 weeks ago, jumped from 3.3k for landlords to 5k+ for owner occ.

 

Wow ok that is crazy. Were you affected by the 2019 floods?

 

Are there any aerial photos that show the floods? Or maybe just look around for croc prints in the verge?

 

I have 2 DHA IP in Kirwan, it’s been a good experience and no issues with flooding specially in Kirwan - still check the flood map. Townsville rental yield is good, high rental demand and real estate agents reckons next 2-5 years are going to good as there has been no growth for almost 10 years.

In the future new big battery factory, nickel mine and Singapore army base expansion is just going to help the property growth further.

 

Hi Mady, how do you find out what might be happening in the future when researching? I only know to check council and government infrastructure.

 

Townsville Enterprise is the place to go: Unlock the North: North Queensland Projects & Policies | Townsville Enterprise

 

Awesome! Thanks Alanyin

 

Hi all,
Is this the active Townsville thread?
Hoping we have some sort of discussion given I've directed agree bit of capital to thia town
Cheers