This report is authored by respected Queensland economist Colin Dwyer to give our investors an independent assessment on the short-to-medium term outlook of key regional markets. Colin is widely regarded as a leading economist and social commentator by business, the media and the broader community. We hope it will give you a good understanding of the factors currently in play and give you confidence in your investment decisions.
Welcome to our investor update on Townsville, the first in our 2017 series of research reports specially commissioned for our investor clients. By way of introduction, here’s a true story about the famous American financier and businessman, J.P. Morgan. When he was asked “What is the market going to do?“, J.P. Morgan allegedly replied, “I’ve been studying this market very carefully and for a long time, and I’ve reached a conclusion; the market is going to fluctuate.“ This is probably the only sure thing we can say in the short term as to what our Australian property markets are going to do. History has shown that markets will fluctuate, and consequently they reward the patient investor.
Townsville’s diverse economy combined with the potential of recent project announcements and consequential job creation provides emerging confidence that North Australia’s largest city is in the early stages of recovery. The Townsville property market can be assessed using population, production, potential growth and comparative price information.
Townsville is a long term quality regional property market. It is the 13th largest city in Australia and has a diversified economic profile. It has various quality industries of national significance including the largest regional hospital in Queensland, largest Army barracks in Australia, a nationally significant port facility and an internationally recognised tertiary sector. These facilities have quality surrounding suburbs with lower vacancy rates, lower unemployment and easily accessible lifestyle facilities for workers.
If we look at the recent past, Townsville economy produced $13.5b but with spare capacity. Townsville has employment specialisations in a variety of industries, including Health, Higher education, Transport, Scientific research and Defence. Lavarack Barracks has a strong positive influence on Townsville’s economy with over 5,000 personnel earning above average incomes.
Read the whole report in the eBook below!