The home at 25 Wallace Cct, Kirwan, sold for $610,000 in February 2025. Picture: realestate.com.au
Townsville property prices continue to surge with new PropTrack data revealing increases across the February quarter and the past year.
The latest PropTrack Home Price Index showed Townsville dwelling values shot up 24.1 per cent between February 2024 and February 2025 to sit at a median of $525,000.
Townsville home prices were also up 2.44 per cent in the February quarter.
In wider regional Queensland, the median home price lifted 0.42 per cent last month to a new peak of $715,000.
This pushed year-on-year growth to 9.14 per cent.
The median house price was up 2.25 per cent across the quarter and 24.3 per cent across the year to $564,000, while the median unit price was up 4.25 per cent quarter-on-quarter and 22.77 per cent year-on-year to $354,000.
The average house price in regional Queensland was up 9.29 per cent in the past 12 months to $749,000 while the average unit price was up 8.6 per cent to $660,000 in the same time.
The home at 6 Fry St, Belgian Gardens, sold for $837,000 in February 2025. Picture: realestate.com.au
REA Group senior economist, Eleanor Creagh said Brisbane home prices also hit a new peak in February after a 0.29 per cent month-on-month growth and 10.21 per cent year-on-year growth.
“The median home value in Brisbane was $870,000 in February, making Brisbane the second-most expensive capital, only behind Sydney ($1.94m),” she said.
“When comparing annual price growth, Brisbane remains one of the strongest performing capital city markets, though there has been a deceleration in the pace of price increases compared to the previous quarter.”
Mrs Creagh said Queensland’s capital and regional areas had seen strong price rises since the start of Covid.
“Since the onset of the pandemic in March 2020, home price growth in regional Queensland (+81.4%) recorded slightly higher growth than that of Brisbane (+80.9%),” she said.
REA Group senior economist, Eleanor Creagh. Picture: Supplied
Ms Creagh said nationally, home prices rebounded as interest rates fell in February, reversing the soft start to the year.
The median Australian home price increased 0.4 per cent in February and 3.94 per cent in the past 12 months to a new peak of $794,000.
The median home price was up 0.67 per cent in Melbourne to $774,000 in February, 0.5 per cent in Sydney to $1.094m and 0.33 per cent in Adelaide to $793,000.
“Market sentiment has improved now that interest rates have started to move lower,” Ms Creagh said.
“The prospect of rate cuts had already buoyed sentiment, with clearance rates strengthening in every capital city in early February compared to the final months of 2024.”
Ms Creagh said the rate cut boosted borrowing capacities while improved affordability and buyer confidence had driven renewed demand and price growth, reversing the falls of recent months.
“Beyond interest rates, structural factors underpinning home prices remain at play,” she said.
“Population growth remains elevated, though has begun to moderate, and a chronic shortage of new homes remains.
“Looking ahead, prices are expected to continue lifting and interest rates are expected to fall further.
“However, poor affordability will likely dampen the uplift in prices compared to prior easing cycles, resulting in the pace of home price growth trailing the strong performance of recent years.”
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