I am currently residing in the ville and if you look at the figures you have quoted-you would have to assume that thier couldnt be too much room for any huge movement in prices.Yields may improve in the medium term as it appears there may be the start of an affordability problem occuring.
It also depends if you are lookig at new properties.( be aware there can be huge wait time to build property,some as long as a year.)

-Median Capital Growth for Townsville LGA
2004 +27.7%
2005 +20.1%
2006 +7.4%
2007 +20.3%
2008 +8.9%
my suburb has gone 138% in that time
 you would be better trying to gain older properties in areas that have large blocks of land i.e Aitkenvale,Vincent ,mundingburra(parts),this area is being bought out by those wanting to subdivide(blocks range from1000-1200m2).
Stockland is expanding by a $200mil facelift.
Very tight rental market 1500 defence pers in 2011.Alkot of single people unable to buy.Student demand high,especially at the start of the school year.

It all depends on your interest.This is only general info.