HI mate,
I live and bought in Townsville over the last 20yrs. My thoughts, small regional but close enough to Townsville that it won't die. yet lying flat for some time. What kind of property are you looking at there?
Adrian Cahill | AdrianCahill.com Personal Development Expert
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Email Me | Phone MeHere since 2002, however things have evolved over the years.
I have been to AYR few times, and know few ppl who has business there..
not my choice of town to invest, as it has plenty land around and not much growth indicators!
What is your strategy??
Thanks for the comments guys, I realize it has been flat for some time and prices have come back quite a bit. I would be looking at 3 bedrooms and a large block, perhaps in the lower price range and basically positively geared. The reason I ask is it does seem quite cheap there but the more I research there seems to be some ok looking areas in Townsville for not much more money, so am I better taking my money to there. Have been to Townsville a few times but don't know it real well from a investing perspective.
A good point about the land surrounding the town, but this is the case with most North QLD towns.
There are various statistic from Townsville Council website, which indicate not so positive index in term of annual population growth , available land of residential, number of approval for new dwelling and the dipping of mining activities. The risks are there but it should be a long term stock instead of short term growth; but vacancies is relatively high meaning it could be potentially negatively geared. What do you think ?
Ayr might not be a bad place to get into, the other places worth a look is Charters Towers or Ingham, both a little over an hour from Townsville, with the Adani/ Abbot point [ north of Bowen] coal terminal and railway approval this week from the Federal govt. demand on housing will happen. They are looking to spend $15 Bil, and need 5000 workers, then there is GVK power 3000 workers with a similar project. Charters Towers is looking like being a service centre being not too far away from the action. The knockers claim it will be all flyin fly out but that sort of investment will attract a lot of activity and demand for housing , charters Towers having 7 Excellent schools is the obvious centre to house people not involved in the FIFO program.
Bowen will be in the thick of it, but the horse may have already bolted there. These approvals have been anticipated for some time and have finally happened.
Inghams location is 20min from the beaches, has a $500mil new sugar mill approved, but is close to Townsville. Been on a downer for some years but showing signs of recovery, having major mining and infrastructure commencing will impact these regional towns, as not everyone wants to be in bigger centres who work on these projects.
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