Townsville is in the midst of a property and real estate boom that looks set to continue into 2024. Affording relative value in Australia’s ever-competitive housing market and burgeoning local economy attracting new businesses and young families, Townsville’s property market is in high demand.

Townsville’s growth is far from a fleeting trends, it’s grounded in solid fundamentals that align with a lasting increase in local housing values. The city's strategic location in Northern Australia, coupled with significant government and private sector investment, is transforming it into a hub for innovation and sustainable living.

In this article, we’ll take a look at what’s behind the growth, the suburbs to watch, and suburbs to consider before you build (or buy) your next home in Townsville.

Table of Contents:

• Townsville Market Overview
• Townsville High Growth Areas
  • Alice River
  • Burdell
  • Bushland Beach
  • Mount Low
  • Deeragun
  • Bohle Plains
  • Mount Elliot
  • Alligator Creek
• Other Notable High Growth Areas in Townsville 

Townsville Market Overview 

The Townsville property market is in the midst of record growth that won’t be dissuaded by recent interest rate hikes. Driven by a combination of factors including a growing population, cost of living pressures forcing young people from metro areas, and an increase in infrastructure development.

Key areas like Alice River, Burdell, Bushland Beach, Mount Low, and Deeragun are witnessing considerable appreciation in property values, with Deeragun leading the charge at a 9.4% growth rate??. Factors contributing to this growth include the establishment of new schools and amenities, influx of Australian Defence Force personnel, and the development of new residential areas. 

These dynamics are creating an unprecedented demand in the local property market in Townsville, attracting both families and investors looking for promising opportunities in far North Queensland.

Townsville High Growth Areas & Suburbs 

Alice River, 4817 

Alice River, otherwise known as Rupertswood, combines the charm of regional living with the convenience of city life. Significant growth in the Alice River reflects its peaceful, yet connected community that is ideal for families seeking a blend of outdoor amenities synonymous with North Queensland living and urban amenities.

• Median Sold Price: $665,000 for houses.
• Annual Rental Yield: 4.8%.
• Compound Growth Rate: 6.3% over five years.
• Median House Price: $665,000, an increase of 2% from the previous year.
• Buyer Demand: Increased by 16% in the same period??????. 

Burdell, 4818

Renowned for its parks, connections to local schools, and a friendly community, Burdell is an idyllic place to build or buy your next home in Townsville.

• Median Price (Oct 2022 - Oct 2023): $450,000 for houses.
• 12 Month Growth: Up 8.4%.
• 5 Year Median Price Trend (Nov '18 - Nov '22): Risen from $315k to $450k??.

Bushland Beach, 4818

Continually ranked amongst North Queensland’s best and most desirable suburbs, Bushland Beach is renowned for its urban amenities, clean and green environment, and peaceful local atmosphere. Those looking for a balance between beachside living and suburbs tranquillity will love what Bushland Beach has to offer.

• Median Property Price for a House: $480,000
• Annual Capital Growth: 4.35%
• 12 Month Growth (Oct 2022 - Oct 2023): Up 4.0%
• Houses Sold in Past 12 Months: 209
• Average Time on Market: 19 days???? 

Mount Low, 4818

Mount Low is a family-friendly suburb renowned for its spacious property and land sizes, peaceful setting, and safety. Mount Low offers easy access to beaches, with easy proximity to essential services like supermarkets, medical care, and recreational facilities.

• Median Price (Oct 2022 - Oct 2023): $435,000 for houses
• 12 Month Growth: Up 3.0%
• Houses Sold in Past 12 Months: 179??

Deeragun, 4818

Deeragun is a peaceful suburb that offers easy-access to the city, as well as a family-friendly atmosphere. Larger than average block sizes and an influx of new, high-quality residential construction means that Deeragun is experiencing unprecedented demand from young families and investors seeking value in the Townsville region.

• Median Property Price for a House: $359,500
• Annual Capital Growth: 7.31%
• 12 Month Growth (Oct 2022 - Oct 2023): Up 9.4%
• Houses Sold in Past 12 Months: 158
• Average Time on Market: 28 days????

Bohle Plains 

Bohle Plains is currently (at the time of writing) seeing some major developments in recent years, most notably, the Harris Crossing housing estate located in Thuringowa Central. This area features a bunch of already-built amenity centres such as Willows Shopping Centre, JCU, and Lavarack Barracks.

• Median Property Price for a House: $450,000
• Annual Capital Growth: 5.26%
• Houses Sold in Past 12 Months: 130
• Average Time on Market: 22 days???? 

Mount Elliot 

Only a short 15 minutes from the Townsville CBD, Mount Elliot is shaping up to be a potential area for young homeowners seeking suburban comfort while retaining convenient access to the heart of the city. The area is already seeing good opportunities for value-added living with recent housing developments such as Elliot Springs. 

Alligator Creek

Alligator Creek sits just 22km from the Townsville CBD, surrounded by the beauty of North Queensland’s natural landscape. This area is becoming popular due to the increase in housing developments like Allendale Estate which gives homeowners the opportunity to give their future homes a mountain view and a peaceful lifestyle. 

• Median Property Price for a House: $579,000
• Annual Capital Growth: 2.48%
• Houses Sold in Past 12 Months: 35
• Average Time on Market: 26 days????

Final Thoughts 

As we look towards 2023, Townsville’s property market presents compelling new opportunities for those looking to make their mark in the market, and those looking to invest in the local demand. The city’s consistent growth, largely driven by strategic investments and continual infrastructure developments have given way to a vibrant local economy that presents new opportunities.

With its ongoing development and the promise of continued growth, Townsville stands out as not just a wise choice for current investment but also a beacon of sustainable living and community development for the future. As the city strides into 2024 and beyond, it remains a market brimming with potential, set to redefine the standards of living and investment in Northern Australia.