This article is from the Australian Property Journal archive
Townsville’s residential property market returns has outstrip most regions in Queensland, according to the latest research by Colliers International Townsville.
According to Colliers International, Townsville’s rental yields continue to grow.
Townsville is ranked fourth in Queensland with average gross yield of 5.1%, while the median house price in Townsville is $265,000.
The gross return in Townsville is $13,520.
Meanwhile, in Brisbane and on the Gold Coast, the average gross yield is 3.99% and 3.20% respectively.
The median house price in Brisbane and the Gold Coast is $365,000 and $390,000 respectively.
Colliers International Townsville’s director of research Colin Dwyer said Townsville three bedroom house average gross rental returns are 5.1% and 5% in Thuringowa.
“This remains one of the best returns in Queensland and compares favorably to Brisbane, at less than 4%,” he added.
According to the latest Residential Tenants Authority figures the cost of renting a three bedroom home in Thuringowa is ranked closer to the cheapest location in the state, Charter Towers, than the more expensive SEQ centres and coal rich Mackay.
On average, Thuringowa supplies three bedroom houses that are $105 cheaper than the Inner North West of Brisbane and only $75 dearer than Charters Towers.
The number one ranked Queensland centre is Rockhampton with an average gross yield of 5.79%.
Rockhampton also has the most affordable median house price at $188,750.
By Kathryn O’Meara
Table 1 Average Gross Yields Major Queensland Centres
|
Location
|
Gross Return
|
Median Annual House Price
|
Average Gross Yield
|
Rank
|
|
Rockhampton
|
$ 10,920
|
$188,750
|
5.79%
|
1
|
|
Bundaberg
|
$ 11,180
|
$210,000
|
5.32%
|
2
|
|
Gladstone
|
$ 11,700
|
$225,000
|
5.20%
|
3
|
|
Townsville
|
$ 13,520
|
$265,000
|
5.10%
|
4
|
|
Thuringowa
|
$ 12,740
|
$255,000
|
5.00%
|
5
|
|
Logan
|
$ 12,220
|
$247,000
|
4.95%
|
6
|
|
Cairns
|
$ 14,040
|
$285,000
|
4.93%
|
7
|
|
Mackay
|
$ 16,120
|
$328,500
|
4.91%
|
8
|
|
Ipswich
|
$ 10,920
|
$230,000
|
4.75%
|
9
|
|
Toowoomba
|
$ 11,180
|
$240,000
|
4.66%
|
10
|
|
Caboolture
|
$ 11,700
|
$270,000
|
4.33%
|
11
|
|
Pine Rivers
|
$ 13,000
|
$300,000
|
4.33%
|
12
|
|
Redcliffe
|
$ 12,480
|
$295,000
|
4.23%
|
13
|
|
Hervey Bay
|
$ 11,440
|
$280,000
|
4.09%
|
14
|
|
Beaudesert
|
$ 13,780
|
$343,750
|
4.01%
|
15
|
|
Brisbane
|
$ 14,560
|
$365,000
|
3.99%
|
16
|
|
Caloundra
|
$ 15,080
|
$380,810
|
3.96%
|
17
|
|
Maroochy
|
$ 15,080
|
$382,000
|
3.95%
|
18
|
|
Redland
|
$ 13,780
|
$350,000
|
3.94%
|
19
|
|
Noosa
|
$ 15,080
|
$437,000
|
3.45%
|
20
|
|
Gold Coast
|
$ 12,480
|
$390,000
|
3.20%
|
21
|
Source RTA, REIQ and Colliers International Townsville
Table 2 Major Queensland Centres 3 Bedroom houses weekly rent June Quarter 2006
|
Location
|
Rent ($)
|
Rank
|
|
Charters Towers
|
170
|
1
|
|
Ipswich
|
210
|
2
|
|
Rockhampton
|
210
|
3
|
|
Toowoomba
|
215
|
4
|
|
Gladstone
|
225
|
5
|
|
Logan
|
235
|
6
|
|
Gold Coast (C)
|
240
|
7
|
|
Redcliffe
|
240
|
8
|
|
Thuringowa
|
245
|
9
|
|
Pine Rivers
|
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