Australia’s best property market will be Townsville, predicted Simon Pressley (pictured above), Propertyology’s head of research.
After analysing key metrics for property markets in more than 400 Australian cities and towns, Propertyology ranked Townsville's capital growth rate potential as the best in Australia for the next three years.
“We are anticipating the outstanding performance of Australia’s 14th largest city to be the biggest property market star to catch Australians off-guard since the stellar run of Hobart from 2015 through to 2022,” Pressley said.
Propertyology projects that real estate values in Townsville will increase by approximately 50% over the three years ending in 2026.
“Existing homeowners in Townsville now have a fantastic platform to upgrade to a nicer or bigger home,” Pressley said. “There will absolutely never be a more affordable opportunity for first-home buyers to get their first foot on the property ladder.”
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Townsville has seen a 21.5% increase in jobs over the last five years, far exceeding the national average of 11.8% and Sydney’s 5.6%.
With $12 billion worth of committed projects, Townsville boasts an unparalleled pipeline of major projects.
“No location in Australia’s capital city or regional township has a more impressive pipeline of major projects than the northern capital of this nation,” Pressley said.
An influx of internal migrants, including 500 military personnel and their families relocating to Townsville in 2025, will further boost the housing market.
“A plethora of employment opportunities, housing affordability, and significant investment in lifestyle amenities make Townsville a prime destination,” Pressley said.
The current supply of properties in Townsville is already 40% lower than five years ago.
“Three key housing supply metrics confirm Townsville's property market to already be as tight as a mouse in a matchbox,” Pressley said.
Analysis shows that Townsville’s housing construction pipeline is lagging behind demand, indicating potential for even greater future shortages.
Townsville’s economy is robust and diverse, with key sectors including health, education, manufacturing, agriculture, renewable energy, precious metals, and tourism.
The city’s amenities and lifestyle offerings, such as the picturesque Strand and a $300m world-class sports stadium, have transformed Townsville into an attractive location for residents and tourists alike, Propertyology reported.
“The recent investments in lifestyle and liveability, combined with Townsville’s current media house price of $450,000, are certain to attract the attention of the growing volume of Australians who relocate away from big, congested, expensive cities,” Pressley said.
To read the Propertyology analysis in full, including the list of major projects in Townsville, click here.
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