Townsville’s biggest home price gains revealed

This Heatley home sold for $220,000 in 2018 and $522,500 in March 2025. Picture: realestate.com.au

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The Townsville property market is leading the state in suburb price growth, with 12 of Queensland’s top 15 performing markets found in the region and home values surging by more than 37 per cent in some areas.

Latest PropTrack quarterly home values data revealed Queensland’s average annual growth of 13.56 per cent far eclipsed the national average of 6.77 per cent, with a suburb-by-suburb breakdown showing the highest price hikes were in regional areas.

The data showed 761 of the state’s house or unit markets saw annual growth of at least 10 per cent, with 226 where prices were up by 20 per cent or more.

Townsville’s property market continued its bull run with seven suburbs in the NQ capital ranking among the state’s top 10 annual growth markets in March.

Hotspots were a mix of house and unit markets.

Houses in Vincent notched up 37.8 per cent annual growth, from $329,615 to $454,125, while for units, Railway Estate was up 37.4 per cent to $324,671.

The median cost of a house in Heatley soared 37 per cent since March 2024, from $348,502 to $477,510, while Garbutt units were up 36.9 per cent, from $229,421 to $314,180 and Rasmussen house prices jumped 35.9 per cent, from $352,920 to $479,480.

This Garbutt unit sold for $128,000 in 2016 and $280,000 in December 2024. Picture: realestate.com.au

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Ray White Townsville managing director Giovanni Spinella highlighted affordable homes and ample employment opportunities as key factors attracting young families and investors to the regional centre.

“Population growth in Townsville is driven by infrastructure and job opportunities,” Mr Spinella said.

“The cost of living and affordability have also been major factors, while many older homeowners are also taking advantage of the market to upgrade to their forever homes.

“Investment stock is another pillar, with Townsville in a fairly unique position where high rents and affordable property prices allow investors to enter a positively geared market.”

Mr Spinella said local growth wasn’t always tied to specific suburbs, but rather affordability.

Areas like Rasmussen and Kelso had been strong performers among first-home buyers focused on price.

“Anything within 5km of the CBD is performing strongly, but outer suburbs are also thriving,” he said.

Looking ahead, Mr Spinella was confident about the market’s continued growth.

“With ongoing building and development, plenty of people moving here, and strong defence force presence, I don’t see any changes.

“There are still plenty of employment opportunities and projects underway.”

Ray White Townsville managing director Giovanni Spinella. Picture: Realestate.com.au.

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The PropTrack report showed South Gladstone in Central Queensland claimed the title of Queensland’s strongest performer, with unit prices there up a remarkable 46.6 per cent, climbing from $191,152 to $280,192.

The unit market in Kingaroy was in second place with the median price up 41.6 per cent, from $233,884 to $331,240, followed by Townsville’s top five performers.

Brisbane’s outer suburbs once again recorded the city’s biggest gains, as the ongoing affordability crisis drove heated competition for entry-level homes.

Priced-out buyers maximised savings by opting for units over houses, with the apartment sector recording the largest increases in these areas since January.

Ipswich emerged as Greater Brisbane’s growth star, led by the unit market in Redbank, where prices surged 32.5 per cent year-on-year, climbing from $325,672 to $431,445.

Prices in other Ipswich areas, such as Goodna and North Booval, also saw strong increases, with unit values up by just under 30 per cent, reaching a median of $487,280 and $508,129 respectively in March.

This Garbutt unit sold for $128,000 in 2016 and $280,000 in December 2024. Picture: realestate.com.au

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Ipswich agent Roger Eveans, of RE Realty, said high rental yields and affordability relative to Brisbane, the Gold or Sunshine Coasts had driven demand in the area.

“First-home buyers are still looking at homes and even house-and-land packages that can just fit under the $700,000 mark, which allows them to avoid stamp duty and lenders mortgage insurance,” he said.

“We have flood-free blocks of land available in Bundamba at $310,000 that can make it a possibility for first-home buyers to build.”

Units in Redbank, Goodna and North Booval had been increasing in prices due to their affordability in comparison to homes in the same area.

“We have a lot of people trying to get out of the rental cycle and into home ownership and this is a good, safe way to start,” Mr Eveans.

The Ipswich rental market had also played a significant role in boosting demand.

“Rental prices are high, and the lack of rental supply is driving investors to the area,” he said. “This is also helping to push up sale prices.”

PropTrack’s figures showed Moreton Bay suburbs also outperformed, with Brendale houses recording a 27.7 per cent year-on-year increase, rising from $498,555 to $636,555.

It was one of only two house markets, alongside Laidley North, featured among Greater Brisbane’s top 20 growth spots.

Property insiders say the results reflect a shift in buyer preferences as families and first-home buyers seek better value for their money further from the city centre.

This Vincent home sold for $298,500 in 2022 and $485,000 in March 2025. Picture: realestate.com.au

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TOWNSVILLE TOP ANNUAL GROWTH SUBURBS – MARCH 2025 QUARTER

(Source: PropTrack)