Confidence in Townsville’s property market is beginning to gather pace as major government and private sector projects start to have an impact on the local economy.
In addition to the high profile stadium construction in the CBD, Adani has begun setting up their local headquarters for the Carmichael Mine, while port expansion and more than $1 billion in solar projects in the region are also generating positive signs in the economy.
Inner-city homes have seen particularly good results as cautious optimism begins to return to the local market. While the turning point for the property market hasn’t been reached, momentum is certainly building.
This optimism is also beginning to extend to the rental market. While average rent remains below previous highs, the movement of workers, including those relocating to Townsville for Adani, has begun to increase demand for rental properties.
You can read more about these positive signs for the property market in the Townsville Bulletin here.