Townsville house prices in decline after collapse in mining investment: BIS Oxford Economics

Townsville house prices in decline after collapse in mining investment: BIS Oxford Economics
Staff reporterJuly 16, 2019

House prices in Townsville have declined with the collapse in mining investment, according to the BIS Oxford Economics Residential Property Prospects 2019 to 2022 report.

With investment now troughed and vacancy rates beginning to tighten, house price growth is expected to slowly return.

A rise of 9% is forecast in the three years to June 2022.

The Gold Coast and Sunshine Coast have each enjoyed solid house price rises, benefiting from strong migration inflows and an undersupplied market. 

Vacancy rates are low, but supply is rising, the report suggested.

This will slow price growth, with total rises of 9% and 7% respectively forecast in the three years to June 2022.

Cairns has not been as exposed to the resource sector and has experienced moderate price growth in recent years.

This is expected to soften some of the upside to house prices with a total rise of 6% forecast in the three years to June 2022.

Editor's Picks

Why Serai apartments in North Fremantle have resonated with the local market: Urban Buyer Q&A
GWH to usher in new ERA for Newcastle with latest apartment tower: Urban Display Suite Tour
Billbergia & Metrics propose two 80-level towers in Sydney's CBD
Gurner gets go-ahead for luxury apartments on Sydney's Kent Street
Golden Sedayu to deliver significant amenity in Somerset, Burswood Point first stage