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Bridget Tyrrell outside her newly purchased Gulliver home. Picture: Shae Beplate.
PROPERTY prices in some Townsville suburbs have risen above the impact of the flood event earlier this year, with prices lifting substantially in the 12 months to April.
New data by CoreLogic has found house prices in Gulliver have increased 30.3 per cent in the 12 months to April, bringing the median house price in the suburb up to $275,000 from $211,000.
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Home owner Bridget Tyrrell and Ray White Real Estate Agent Julie Mahoney. Picture: Shae Beplate.
Bridget Tyrrell, who recently purchased a home on Sargeant St in Gulliver, said buying in the suburb appealed to her because of its proximity to the CBD.
“I think it’s just a central area close to the main attractions in town,” she said.
“It’s always going to be good value because of its location. I bought the property because it’s in a lovely street and it’s quiet and surrounded by other nice houses.”
Ray White principal Julie Mahoney, who sold Ms Tyrrell the house, said the suburb which was untouched during the floods, was attracting interest from young buyers.
“Gulliver is an older suburb with a lot of post-war homes and I’m seeing a lot of the younger people buying there because it’s got wider streets and bigger lots,” she said.
“The houses there are very strcturally sound.
“It also remained high and dry during the 2019 floods, which was great for the area.”
Ms Mahoney said the convenient location was pulling in buyers.
“The location is great because it’s still inner-city but the turnover there hasn’t been very high so they’ve been well maintained,” she said.
“The school zoning is also convenient in Gulliver and there’s plenty of facilities close by.
“People are really seeing the great value for money in the suburb.”
The area that has seen the second biggest property price rise in the year to April was Hermit Park, one of the suburbs hit hardest during the floods earlier this year.
The median price for units in the suburb increased 16.3 per cent in the year to April while house prices rose 8.4 per cent.
REIQ regional director Damien Keyes said the suburb was attractive for first-home buyers and investors.
“Hermit Park is a resilient suburb and it rebounded very quickly after the 1998 flood,” he said.
“It’s a suburb that has a lot of charm, is affordable and very close to the city.
“Units for $150,000 is a great entry-level product and it’s good for investors. In the boom, units in that area were going for about $250,000, so people are getting them now, giving them a coat of paint and sitting on them for a bit.”
Oonoonba is another suburb where house prices have lifted over the 12 months, with an increase of 14.2 per cent.
Top 10 suburbs with a rise in property price
Houses Guilliver 30.3%
Units Hermit Park 16.3 %
Houses Oonoonba 14.2 %
Units South Townsville 13.9 %
Houses Bluewater 10.4 %
Houses Condon 8.5%
Houses Hermit Park 8.4%
Houses Black River 7.9%
Houses Balgal Beach 7.9%
Houses Hyde Park 7.1%
Top 10 suburbs with a drop in property price
Units Belgian Gardens -39.6%
Houses Rasmussen -31.3%
Units Nelly Bay -28.9%
Units Rosslea -27.6%
Units West End -20.9%
Houses Alligator Creek -20.5%
Units Mundingburra -18.8%
Houses Rosslea -15.8%
Houses Mysterton -15.6%
Units North Ward -14.7%