Townsville units surge 19.27pc as buyers squeezed in capitals

Townsville unit prices grew an astonishing 2.14 per cent in August alone – at a time when most capitals are in reverse. Townsville’s unit market has exploded with a massive 19.27 per cent rise in median price in just one year – despite a nationwide property downturn impacting every Australian state capital. The new realestate.com.au Home Price Report, out Tuesday, found Townsville unit prices grew an astonishing 2.14 per cent in August alone – pushing the median unit value to $521,000. This as overall Townsville dwellings grew 0.6 per cent for the month to sit at a $633,000 median – despite a slight quarterly dip of -0.25 per cent – with the annual rise sitting at 11.49 per cent. Realestate.com.au senior economist Eleanor Creagh. Realestate.com.au senior economist Eleanor Creagh told The Townsville Bulletin the region remains one of the country’s ultimate growth engines as buyers seek shelter from shrinking borrowing capacities. “Townsville’s been consistently one of the strongest performing regions in the entire country over the past couple of years, bolstered by comparatively affordable housing, strong population growth,” Ms Creagh said. “The comparative affordability of the regi...