Townsville Residential Property Overview | QTR 1 | 2015
Townsville Property Market Sales Cycles Townsville Land Market
Price Points The Townsville land market displays a good spread of price points reflecting the range of product on offer. The dominant price point in the year ending September 2014 was the $150,000 to $175,000 price point, which represented 35% of all sales. Sales above $250,000 accounted for 11% of market activity. The highest priced residential land is concentrated in the prime suburb of Castle Hill, however premium prices have also been achieved in suburbs including Douglas, Idalia, Nelly Bay (Magnetic Island) and Bushland Beach. These sales are dispersed across a wide geographic area.
$165,000
1400
No of sales Median Price 1200
The graph to the right shows the distribution of lot sizes for all land sales recorded during the year ending September 2014. The under 450 m2 bracket has grown its share substantially over recent years, rising from just 2% of sales in 2011 to now representing 20% of sales in the year ending September 2014. This reflects a change in town planning philosophy and appears to have been accepted by the market. The 451 to 600 m2 bracket has the highest proportion with 26 per cent of sales, followed by the 601 to 750 m2 bracket accounting for 22 per cent of sales.
$100,000 600
518
498
$80,000
400
$60,000 $40,000
200 $20,000
Mar-14
Half Year Prepared by 3D Property Consulting, Source: PDS Live
Townsville City LGA Land Price Points Year Ending September 2014 >$250,000 114 sales (11%) $200,000-$250,000 90 sales (9%)
<$125,000 75 sales (7%) $125,000-$150,000 181 sales (18%)
$175,000-$200,000 205 sales (20%)
$150,000-$175,000 351 sales (35%)
Townsville City LGA Lot Sizes Year Ending September 2014
>1200 m2 186 sales (18%)
<450 m2 208 sales (20%)
901-1200 m2 51 sales (5%) 751-900 m2 93 sales (9%)
Prepared by 3D Property Consulting, Source: PDS Live
Sep-14
Mar-13
Sep-13
Mar-12
Sep-12
Mar-11
Sep-11
Mar-10
Sep-10
Mar-09
Sep-09
Mar-08
Sep-08
Mar-07
Sep-07
Mar-06
Sep-06
$0 Mar-05
0
601-750 m2 228 sales (22%)
TOWNSVILLE RESIDENTIAL PROPERTY OVERVIEW
$120,000
Median Price
800
451-600 m2 250 sales (26%)
3
$180,000
$140,000
1 year median price growth: -0.3% 5 year median price growth: -0.2% P.A.
Prepared by 3D Property Consulting, Source: PDS Live
Lot Sizes
$200,000
$160,000 1000
Sep-05
The median land price peaked in 2008 at $178,000 and has been relatively flat since June 2009. In the six months ending September 2014, the median land price was $165,000. The lack of price growth combined with increased infrastructure and development costs has placed downward price pressure on englobo site values.
Townsville City LGA Land Sales Cycle
No of Sales
The ten year sales cycle for the Townsville land market mirrors the prevailing economic conditions well, with a steady rise in sales volumes from 2001 to the end of 2007. Sales volumes plummeted during 2008 and bottomed out in 2011. 498 transactions were recorded during the six months ending September 2014, to give an annual total of 1,016 sales. This is well below the ten year average of 1,388 sales per annum. Sales volumes have remained subdued since 2007.