QLD Rockhampton, Townsville and FNQ

Hi people,

I've been looking at these burbs:
Bundaberg
Innisfail
Toowoomba
Rockhampton
Mackay
Cairns
Townsville

Does anyone have any opinions (good or bad) on those areas? Which ones have stronger potential growth?

 

What does YOUR initial research tell you about the areas you have nominated?
There is just about a separate thread on every location you have mentioned, here on PC.
Do some reading....

 

I am bullish on Townsville and Mackay...

Townsville capital of the North.
Largest Army Barracks
Airforce Base
James Cook University
NRL and Rugby with new stadium
Supercar Racing
Great Hospital
Mining feeder into other towns
Airport (international flights to Singapore coming online soon hopefully)
Hopefully Bonza (new regional airline gets approved to open up more flights in and out of Townsville)
The Strand great place for the family and single professionals
Magnetic Island
3.5 Hours to Whitsundays Drive
4 hour drive to Cairns
3 Hour to Airlie Beach
Hydrogen potentially unlocking near Townsville
Solar Power benefit in the sunshine to reduce bills particularly with current government rebate
Diversified economy ad job opportunities(correct me if I am wrong but lowest unemployment since GFC)
Largest Aquarium in Australia in Townsville
Townsville city deal

Way more benefits but too many to name right now. I used a buyers agent from this forum and I bought in Bushland Beach, on a hill, out of the flood zone and storm surge which resulted in a pretty good insurance rate.

PS I appreciate the thread. We need more discussion on FNQ. It is a market that is not fully appreciated in my opinion. Good things are happening.

Good luck

 

Thats the thing, its hard to find sub 300k brick houses less than 30yrs old (depreciation) in bugger towns but these burbs showed up. All positive cash flow with depreciation and under 300k and with a decent base of infrastructure (schools, uni, tafe, airport...etc).

So i wondered why they're not as explosive as the Ipswich/Logan areas which are ballistic right now.

 

The Insurance Premiums in Townsville and Bundy may be significant and may affect Positive Cashflow. Perhaps in the current environment the Interest Rates may rise and this may also have an impact on the Positive Cashflow if exposed to market forces. These smaller cities/towns are also more prone to Extreme Weather events Floods/Cyclones etc. On the positive side the infrastructure is reasonable and there are investment $$ flowing into some of these regions and may result in better economic situation down the track.

 

My insurance is $1300 per year. Need to get the right house. Darwin is also subject to weather events and yet prices are much higher. My sisters home flooded in Brisbane (twice). Need to buy a house in the right location. People are sleeping on fnq. Also talks on government insurance pool (10 bil pilot program I believe commencing next year July), if that occurs, will be big too imo.

 

People can only sleep for so long. Eventually the stigma will change and the first movers are the ones to reap the rewards.

 

Are insurance premiums high in Bundaberg?

 

I have not checked personally but I believe if your buying in the right spot, eg. Reduced risk, it will help with your insurance quote..

 

We are in all of those places. Last week I did a road trip from Brisbane to Airlie Beach, this week Airle Beach to Cairns. There are markets within markets as always. Townsville has loads of new subdivisions, seems to be ample supply of land. Airlie has low vacancy rate.

 

As others have quoted - some spots that were flood affected in the recent past have some significant premiums. You may have to pick the right ones and check a few quotes to ensure the costs are acceptable. Bundy where the right pricing on the stock - it looks like they are moving reasonably quick. Anything under 300K are snapped up relatively quickly.

 

Townsville is flying!

This is also reassuring:

 

Bushland Beach is in high demand too. Got a few people leaving Darwin and heading to Townsville from my network. Can't speak if that is a larger trend amongst Darwin residents as value for money is not that good I'm Darwin at the moment imo. Do a simple comparison on realestate and then also compare compare services too.

 

I guess Darwin has that hip appeal that Townsville doesnt.
Darwin is diverse , multicultural, laid back and has great access to unrivalled camping/fishing spots
Townsville has a huge image problem - it is best known for rednecks, bogans, clive palmer and Rugba League
I think Townsville will reach par with Darwin again but it will come on the back of jobs and not the promise of a tropical lifestyle.
I do agree that property there is frustratingly good value for money - been holding in West End since 2015 and just starting to see some solid movement

 

I live in Darwin and I agree, I love the Indigenous culture up here. But the cost of living really makes it miserable. I am paying $2600 per month for an average home. The housing quality is terrible. Fencing is dreadful and houses in Zuccoli, Durack and so on are extremely overpriced for the land you are getting.

https://www.realestate.com.au/property-house-nt-gunn-137892878 - 312 SM

https://www.realestate.com.au/property-house-nt-gunn-137484842 - 450 SM

https://www.realestate.com.au/property-unit-nt-durack-137463086 - 205 SM

Much the same for Zuccoli

Way more value in FNQ atm.

 

Hi Ariyahn, new to the forum but keen to look further at IPs in FNQ. Are you able to share the buyers agent details? Not sure if this is allowed on the forum and couldn't work out how to message you privately. Thanks

 

Absolutely he is a regular poster on this forum. Will PM you his details

 

IPs are great in FNQ. But insirance for a free standing house os about $3k. Take that into account.

 

Agree. Although, Sure Insurance might help with that but key is finding a property in a good location and not subject to flooding.... I am hopeful of the insurance situation improving with the Government Insurance Pool Pilot program which will further assist the region....

"The Federal Government has this week issued a release stating that more affordable and accessible insurance will be offered due to the establishment of a reinsurance pool by the Morrison Government. The reinsurance pool would cover cyclone and related flood damage in northern Australia from 1 July 2022, and would be backed by a $10 billion government guarantee."

 

Jobs boom in Townsville. Top 10 in job creation in the nation. Likely to further expand with renewable energy.

Jobseekers urged to cash in on Townsville’s jobs boom

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