The home at 9 Vivian St, Gulliver, sold for $570,000 in March 2025. Picture: realestate.com.au
Townsville has been revealed as the country’s top performing property market in the past year, with home prices increasing almost four times faster in the north’s capital than on the Gold Coast.
The latest PropTrack Home Price Index found the median dwelling price in Townsville shot up 23.33 per cent in the 12 months to March to sit at $523,000.
Townsville homes prices were also up 0.78 per cent month-on-month and 2.98 per cent quarter-on-quarter in March.
The Home Price Index showed units outperformed houses in the past year, with the cost of a unit in Townsville rising 24.41 per cent to $304,533 while the median house price was up 23.22 per cent to $562,000.
The median unit price was up 3.28 per cent for the quarter and 0.44 per cent in March, while the median house price was up 2.95 per cent for the quarter and 0.82 per cent for the month.
The home at 17 Halley St, Wulguru, sold for $655,000 in March 2025. Picture: realestate.com.au
REA Group senior economist, Eleanor Creagh said Townsville had outshone the rest of the country when it came to annual price growth.
“Townsville was the top performing market in the country for most of the past year,” she said.
“Prices are growing faster in Townsville than on the Gold Coast, almost four times faster in the past year.
“But even with that incredibly strong price rise, the median price of a dwelling is still sitting at a little over $500,000 in Townsville, making it comparatively the most affordable market within regional Queensland.”
The PropTrack data showed the median home price on the Gold Coast had increased 6.74 per cent since March 2024, compared to 23.33 per cent in Townsville.
The national median home price was up 3.91 per cent in the past 12 months while Adelaide and Perth were the top performing capital cities, at 11.32 per cent and 11.53 per cent respectively.
Ray White Townsville general manager Giovanni Spinella. Picture: Realestate.com.au.
Ms Creagh said the recent interest rate cut, affordability and population growth had contributed to Townsville property prices soaring, with the trend likely to continue.
“The pace of growth is likely to moderate but prices are likely going to continue to lift,” she said.
Ray White Townsville general manager Giovanni Spinella said Townsville’s hot property market was largely due to three pillars encouraging price growth.
“The first pillar is population growth – we’re seeing strong population growth based on infrastructure and work,” he said.
“The second pillar is capitalisation on the market – people making good money in the Townsville market are upgrading or buying another house.
“The third pillar is the high demand for rental properties resulting in investors buying into the market, while stock levels are as low as they’ve ever been per capita.”
Mr Spinella said the affordable real estate was also drawing in buyers from out of the area.
“What you can buy for $550,000 to $600,000 in Townsville is on par with what you’ll pay $1m or more for in most capital cities,” he said.
“Affordability of education comes up in conversations more now as well.”
English (US) · 