Townsville Home Prices Reach New Record High

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Townsville’s housing market has continued its upward momentum, with home prices hitting a new record high in July, according to the latest PropTrack Home Price Index.

The report shows that median property prices in Townsville climbed by 16.69% year-on-year and 1.21% quarter-on-quarter, reaching $551,000. This marks the 25th straight month of price growth for the North Queensland city.

In the house market segment, the median price rose to $589,000, up 15.91% over the past year and 0.98% during the July quarter. Meanwhile, units saw even stronger performance, with median prices up 20.38% year-on-year and 2.31% quarter-on-quarter to $428,000.

Ray White Townsville managing director Giovanni Spinella noted that although prices were still trending upwards, the pace of growth had begun to stabilise.

“Figures are getting back to single-digit growth,” Mr Spinella said. He added that unit prices are outperforming houses as first-home buyers turn to more affordable entry points.

“Buyers are weighing their options and increasingly looking at townhouses and units as a first step into the market.”

Despite the rising prices, demand remains solid across the region. Mr Spinella observed strong competition at the lower end of the market and steady performance in both the high-end and mid-range segments.

“Stock levels are still tight, but we haven’t seen a decline in available properties over the past 12 months,” he said.

Local seller Glenys Rowe has listed her Queenslander home in West End and is confident about market conditions. A film producer by profession, Rowe said she was drawn to the property five years ago for its architectural charm and value.

“I couldn’t believe how affordable Townsville was. It’s extraordinary what you can get here for your money,” she said.

Across regional Queensland, property prices also saw continued strength. REA Group economist Anne Flaherty reported a 0.6% monthly increase in July, bringing the median to $728,000, up 9.8% from the same time last year.

Nationally, Australia’s median home price reached a new high of $827,000 in July. Houses now sit at a median of $915,000, while units are at $678,000. Brisbane remains one of the most expensive capital cities, with median home values at $919,000, and house prices averaging over $1 million.

Flaherty noted that regional markets are still outperforming many capital cities, with buyer demand strong despite winter seasonality.

“Auction clearance rates are at their highest level in more than two years,” she said. “With interest rate cuts expected later this year, prices may continue to rise further into new territory.”