Iron-clad north: Townsville homes rise, defying Brisbane’s $77k fall

Townsville is shrugging off the property downturn in the south, seeing dwelling prices rise in the past month. Townsville has cemented its reputation as Queensland’s most bulletproof property market, defying the national downturn to post fresh gains as the southeast nurses $77k losses. Townsville dwelling prices rose 0.3 per cent in October to a median of $627,000, according to the latest Realestate.com.au Home Price Index – at a time when property owners in Brisbane and the Gold Coast bleed peak-to-trough losses of $77,321 and $51,946 respectively. Realestate.com.au senior economist Eleanor Creagh Picture, John Gass The monthly bounceback was spearheaded by houses, which climbed 0.4 per cent over October to a median of $659,000 after values had slipped 0.6 per cent ($3,978) over the preceding quarter. At roughly half the price of a Brisbane house ($1.15m) and less than half of a Gold Coast home ($1.39m), Townsville’s cut-price entry point continues to shield locals from mortgage distress while delivering an annual SA4 growth rate of 6.2 per cent. Townsville unit prices dipped an imperceptible 0.1 per cent in October to $519,000 – which is just $520 graze off its peak, but remains ...