North Queensland real estate market is booming as interstate buyers take advantage of falling prices

Chelsea Stevens has 100 buyers ready to find their next home, but there are no homes to buy.

The Townsville realtor in north Queensland said some were so desperate to find property that they were making an offer despite not setting foot in the state.

“It’s absolutely crazy, to be honest.

“I never thought I would meet so many people who would be willing to buy a property [relying] it’s up to the officer to guide them through everything, inside and out. “

Ms Stevens said around 60% of her buyers were located in New South Wales or Victoria, but technology has given prospective owners a good overview online.

Estate agents believe people are heading to North Queensland because it offers good value for money.(North Queensland ABC: Zilla Gordon)

“It’s all digital, social media, video tours, videography, these are all the things I see,” she said.

Hot property, but always more to sizzle

While southern shoppers wanted to own a part of northern Queensland, it would take a while for them to take it up a notch.

“They are not just coming to relocate, but also to invest for the next one to three years, and then they are also considering moving here,” Ms. Stevens said.

Ms Stevens said she believed the city’s value was driving the push, but prices were on the rise.

“I think there is new growth, I don’t think it’s the end, I think it’s just the beginning for Townsville,” she said.

A sign for sale in front of a block of units
Many buyers come from New South Wales and Victoria.(North Queensland ABC: Zilla Gordon)

Finding a balance between lifestyle and opportunities

REIQ Zone Chairman Ben Kingsberry said Townsville’s claim as the capital of North Queensland made it the perfect place for radical change.

“There is actually a fairly wide range and depth of employment opportunities,” said Mr. Kingsberry.

“If you come to Townsville, you can still pursue your career and continue what you do professionally, just in a place that offers much better value and a much better lifestyle.”

Mr. Kingserry said Townsville has a reputation for being a poor performing place.

But with soaring prices in the capital and interest rates likely to rise, investors now recognized the city’s potential, Kingsberry said.

marina units
As buyers plan to rent their properties for the next several years, rental demand in the area is expected to slow for approximately 12 months.(North Queensland ABC: Zilla Gordon)

The message to buyers was to be ready.

“If you go to an open house and there are 30 groups in a house that you like, there’s a good chance people will bid on that property,” he said.

“If you let it sit for a few days, it’s probably gone.”

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