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Rental Properties In Townsville: An Investment Guide

Whether you’re a seasoned investor or dipping your toe into the property market for the first time, understanding the local market is crucial. This guide explores rental properties in Townsville, offering insights on the rental market, key factors to consider, and the suburbs to watch.

What Is The Rental Market Like In Townsville?

Townsville’s rental market has seen remarkable growth and demand in recent years. With a steady influx of residents seeking work, education and lifestyle benefits, rental properties in Townsville are a sound investment opportunity.

What Factors Should I Consider For Rental Properties In Townsville?

Investing in Townsville isn’t just about buying a property; it’s about understanding the local area, the needs of potential tenants and the long-term prospects of your investment. Savvy investors look at combination factors when considering a rental property in Townsville investment, which can lead to investment growth over time. Some factors worth considering include:

  • Popular School Catchments: In Townsville, properties within popular school catchments are highly sought after. Families value the convenience of living close to their child’s school, and these properties tend to retain their value well over time.
  • Access to University Facilities: With James Cook University situated in Townsville, properties with easy access to the campus can attract university students and staff as potential tenants. This ensures a continuous demand for rental properties.
  • Access to Business for Work and Development Projects: As an economic hub, Townsville is home to thriving industries and development projects. Rental properties near business districts and development areas are particularly appealing to working professionals.
  • Proximity to Sporting Facilities: Townsville’s robust sporting culture makes proximity to sporting facilities a desirable factor. Locations close to sporting venues can be a lucrative choice for potential tenants and investors alike.
  • Proximity to Popular Local Attractions: Properties close to popular local attractions such as shopping centres, parks and walking trails, The Strand, Riverway, Reef HQ Aquarium, Queensland Country Bank Stadium and the Museum of Tropical Queensland are consistently in high demand due to their attractiveness to both local residents and tourists.

Which Suburbs Yield The Best Investments In Townsville?

Identifying the right suburb is a significant step towards a successful investment. Anywhere between 5.5 and 7.5 per cent is a good gross rental yield and there are several suburbs in Townsville which provide that. Here are some of Townsville’s most promising suburbs for rental property investments:

  • Nelly Bay: A beautiful coastal suburb known for its picturesque setting and relaxed lifestyle, Nelly Bay is located next to the ferry docks and terminal. In 2018, Nelly Bay yielded a staggering ten per cent in gross rental yield – the highest in Townsville.
  • Belgian Gardens: Favoured for its access to the city centre, schools and the Strand, Belgian Gardens is a top choice for families and professionals. This suburb has the second highest gross rental yield in Townsville.
  • Garbutt: With the third highest gross rental yield in Townsville and convenient access to the city and the airport, Garbutt is an affordable entry point for investors.
  • Rasmussen: With its increasing development projects and proximity to the university, Rasmussen presents a promising rental market.

Looking For A Rental Property In Townsville?

The secret to a successful investment in Townsville is understanding the market, the local area and the needs of potential tenants. With a thorough understanding of these factors, you can make an informed decision about your investment.

The right partner in your property journey can make all the difference. When you’re ready to take the next step in your investment journey, Harcourts Kingsberry is here to guide you through the process. With our local expertise and dedicated service, our experienced team are always happy to help you realise your Townsville rental property goals.