Now the time to buy in Townsville

first_img“If I had a million dollars I would go and buy 10 houses in Townsville and sit back until I make a return for my retirement nest egg,” said REIQ Townsville zone chairman, Wayne Nicholson. Picture: SuppliedNOW could be the perfect time to get on the property ladder in Townsville with new figures revealing nearly half of owners are selling for less than they paid.However, real estate agents in Townsville are warning buyers not to wait with signs the market is about to turn.The latest CoreLogic Pain and Gain Report revealed 47 per cent of homes in Townsville during the March 2018 quarter sold at a loss.Explore Property Townsville principal Dean Dank said despite the high number of sales at a loss there was signs prices could rise so now was the time to buy.“We’ve been getting more real estate inquiries and more activities on our newsletters plus our vacancy rates have turned on their head,” he said.“You want to be the first people to get in on the ground and not be the sheep buying in 12 months time when prices have gone up.“There is still plenty of properties for under $200,000 and now is a great time for young people to get into market, buy a cheap house, do a good renovation on it, get some equity and then go again.”More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Mr Dank said as vacancy rates continue to tighten some renters would be encouraged to buy, helping to boost the market.“Because there is pressure on the rental market through lower vacancy rates I believe people will be pushed to buy,” he said.“That will be across all price ranges as well because people looking to rent a house for $450 a week will want to buy in a similar range.”In comparison only 8.8 per cent of sales in Cairns were at a loss but Townsville did outperform the Mackay region where 49. 2 per cent of sales were unprofitable.First national Nicholson principal and REIQ Townsville zone chairman Wayne Nicholson said people were often fearful of buying when the market was low but it was actually the best time to buy to maximise capital growth.“If I had a million dollars I would go and buy 10 houses in Townsville and sit back until I make a return for my retirement nest egg,” he said.“We are selling some houses at below replacement cost.”last_img read more

Gerrard says he would have stayed at Anfield.

first_imgSteven Gerrard would still be a Liverpool player beyond the end of this season if he’d been offered a new deal last summer.He says he would have signed a contract if offered in pre-season – but nothing was put to him until November.The captain’s 17-year professional career with the club will finish at the end of the campaign, and he’s being heavily linked with LA Galaxy.last_img