There's so much more to Townsville! What you need to know in the search for your next investment property.
As investors search for opportunities where they are shielded from the current COVID-19 crisis, Townsville is as an area that is doing well to insulate itself from the downturn.
The biggest worry for many investors during the current climate is around employment and finding good tenants, and there is a clear relationship between those two factors.
Given it's beautiful weather and idyllic location, many people might be thinking Townsville is one area that could be negatively impacted due to it's reliance on tourism. However, when we take a closer look at the major employment sectors, they are particularly solid - notably Defence, Health and Education. At this point in time, the local economy has been immune to many of the pressures being suffered in the Southern States. To date that’s what many of the local agents are also saying, with it being largely 'business as usual' in Townsville.
It’s also important to consider that during the last major recession in Australia, Townsville house prices actually soared more than 40% between 1990 and 1994, making it one of the strongest performers in the country during that period.
So for those looking for opportunities that others might not be seeing right now, we think Townsville might well be worth your time. Combine that with the security of DHA's guaranteed rents, long leases and some of the best yielding properties in Australia, you would be wise to seriously consider adding Townsville to your short list.
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