In the current Townsville market, local home buyers are searching for property that is well presented with limited work to be done whilst demand for property requiring work appears less appealing.
The old adage of I’d rather open a bottle of wine than a can of paint still rings true.
First home buyers appear to be looking at new home options, whilst the affordable end of the market is looking at better quality homes in secondary locations or entry level homes in better locations closer to the city centre depending on their taste in housing style and design.
Upgraders are looking to the areas closer to the city than where they are currently located. Access to services such as shopping, employment, schools and recreational activities including bike paths and parks are other features they are considering. These upgraders are typically looking for well presented, renovated dwellings.
The prestige buyer end of the market is very much focused on location, being within close proximity of the city centre and The Strand foreshore. Elevated positions with views over Cleveland Bay or the city centre are other desirable features. This sector of the market is currently not opposed to property requiring renovations due to the price point these options offer in an effort to get into these desirable locations.
Overall, location is one of the main fundamentals for buyers in the current market with suburbs closer to the city centre or those offering superior features by way of services and facilities to their current locations being important.
Source: Herron Todd White