Property prices in Townsville recorded a notable increase over the past year, rising by $80,000 to reach an average of $605,000—outpacing wage growth across Queensland. Despite this surge, Townsville continues to hold its position as the state’s most affordable major city.
Townsville posted a 15.6% increase in property prices, placing it among Queensland’s standout real estate markets. However, Greater Brisbane and the Gold Coast outperformed Townsville with larger gains, as average prices in those regions rose by $149,000 over the past year.
Despite a slight decline recorded in January, Angus Moore, chief economist at PropTrack, confirmed that Townsville’s property market remains strong. He noted that the annual dip seen in January requires limited interpretation, particularly as the market achieved a 2% increase over the past three months, reflecting ongoing momentum and recovery.
In terms of median prices, Townsville remains a more competitive option compared to other major cities. The city’s median house price stands at $605,000, compared with $1.023 million in Greater Brisbane and $1.15 million on the Gold Coast, which is Australia’s second-most expensive property market after Sydney.
Queensland has experienced a notable shift in living costs and housing affordability. Moore stated that Brisbane is currently more affordable than in previous periods, despite significant price increases since the start of the pandemic. He explained that prices doubling since 2020 have transformed Queensland from one of the most expensive states into one of the more affordable ones.
Regional areas in Queensland recorded an 88% increase in property prices over five years, compared with a 95.7% rise in Greater Brisbane. Cities such as Ipswich and Logan experienced strong demand, with median house prices in Ipswich increasing by 17.8% to reach $860,000, while Logan–Beaudesert saw a 17.3% rise to an average of $897,000.
Amid this rapid growth in Queensland’s local property market, Alex Rutherford, a real estate agent at Place, described the current conditions as an unprecedented boom.
She pointed to rising demand for smaller properties, such as one-bedroom apartments, driven by government incentives supporting homes priced below $1 million. She cited an example where 32 groups attended inspections for a 38-square-metre apartment in Brisbane within just half an hour.
Buyers and investors relocating from major cities outside Queensland have played a significant role in driving local demand. Moore explained that population inflows from cities such as Sydney—where residents typically earn higher incomes—have intensified competition, creating greater challenges for local buyers within Queensland’s property market.
