Why investing in Townsville makes sense? - Coral Sea Property Management

Not sure if investing in Townsville is the right decision? Here are 5 reasons why investing in Townsville makes a lot of sense.

Real estate is probably one of the most attractive industries for investors, and for good reason too! If you’re a financial expert, or perhaps even a novice, simply looking to invest money in a promising market, real estate is the answer. Investing in Townsville is an option that’s looking particularly good on all accounts right now. It’s actually based on a recent report conducted by DS Economics. Cutting to the chase, the report found that Townsville rental market is steadily improving with:

  • Rental vacancies expected to fall below 3%.

Now that may seem like gibberish to some of you, but all of this is good news! It basically points to the fact that the economic future of Townsville is looking bright, and rental vacancies are expected to be extra low from 2019 onwards. Let’s dive into it a little further and take a look at all the reasons why investing in Townsville makes sense!

  1. Sustained Job Growth

We’ll give it to you straight! Things weren’t looking so good for Townsville in the past few years. Investing in Townsville seemed out of question for most people in the real estate. Townsville was experiencing a stunted economy with little to no job opportunities available for its locals. The unemployment rates were alarmingly high. Fortunately, the tables have turned and Townsville is now showing remarkable potential for economic growth in 2019. Economic recovery is in progress with several new major projects that have successfully opened up job potential within the city.

What does it mean for someone investing in Townsville?

Well, sustained job growth means more people in people’s pockets. This does not only attract new people to the city but also gives them the confidence they need to make a long-term commitment. This is excellent news for the Townsville real estate market. Townsville’s rental market is likely to grow steadily in the coming years, with the promise of new renters pouring in and possibly even becoming long-term home-owners.

How can we be so sure? Good question! Contrary to popular belief, a growing population of a location is not the best measure of the potential of its property market. The potential of a property market is better reflected in its job growth rate. And with job opportunities on the rise, The Townsville property market is expected to experience a massive growth that you can cash in on.

  1. New Construction Projects Underway

Talk about an economic revolution! Townsville is definitely going through one. In fact, Townsville is expected to become Queensland’s investment property hotspot in the years to come. Townsville city’s real estate market is expected to benefit from it the most; improving healthcare, growing investments in defence, education, and technology sectors, as well as the undertaking of several new construction projects, seems promising for Townsville’s economy.

What does it mean for someone investing in Townsville?

Townsville has been serving as a critical service centre for mineral processing, mining, and agriculture. In the coming years, several public and private projects relating to mining, transport, tourism, and defence industries are planned, some of them already funded.

Your decision to invest in Queensland should be based on and take into account all these factors. The important thing for you as an investor, is to look towards the future potential of the region. Investing in Townsville property at this stage could mean huge turn-arounds for you in the coming years.

  1. Population on the Rise

Forecasted as one of the fastest-growing regions in Australia, investing in Townsville is showing a great deal of promise. The healthcare industry within Townsville is doing particularly well, which is good news for those looking to invest in the property market in Townsville. With a growing population, investment property in Queensland is likely to benefit.

What does it mean for someone investing in Townsville?

A growing population means more people looking for homes and rental property. Because of this growth, the demand for rental homes and property, in general, tends to increase naturally. Therefore, property investment in Townsville is definitely a good idea for you as an investor.

  1. Strong Tourism Potential

Townsville’s tourism potential is growing with each day. The influx of tourists into the city is steadily increasing, showing a great deal of promise for Townsville’s real estate. The important thing to note here is that in the coming years, more investment in the tourism industry will attract more visitors which will create even more opportunities.

What does it mean for someone investing in Townsville?

To put it simply, it means you get a greater return on investment. With more people pouring into the city, the demand for local property goes up. Naturally, the renting power of real estate agents also goes up, allowing revenue-generation opportunities to pop up in return.

  1. Unique Geographical Location

Another great reason for investing in Townsville is its unique strategic location. The city enjoys a great location in North Queensland. Interestingly, the region encompasses five major centres including Townsville, Charters Towers, Burdekin, Palm Island, and Hinchinbrook.

Townsville’s excellent location provides a major advantage in terms of business investment. It’s a cultural hub and the location provides easy access to both local and international markets. Couple this with the beautiful landscape of the region, investing in Townsville starts making a lot of sense.

What does it mean for someone investing in Townsville?

If you’re investing in Townsville, the strategic location is something to keep in mind. A place that is attractive to businesses and other investors is likely to do well in the long run. Additionally, a surprisingly good lifestyle of the city makes it attractive for people looking to settle down in a new location.

To wrap it All Up

Investing in Townsville is a decision you won’t regret, particularly because all forecasts for the year 2019 and onwards show a great deal of promise for Townsville’s property market. The real estate industry in Townsville is highly likely to thrive in the coming years, and investing in Townsville right now will ensure you benefit from it in the long run.