TOWNSVILLE could be on the cusp of another housing market boom.
Property experts predict the current softening of the market is about to turn, despite a slowing national economy and rising interest rates.
A BIS Shrapnel Residential Property Prospects report forecasts a 22 per cent increase in median house prices from 2008 to 2011.
ReMax Excellence sales agents Lyn Griffiths and Rohan Banning are predicting that will have a significant effect in Townsville.
Ms Griffiths said Townsville’s real estate market generally lagged behind Brisbane trends by around 12 months.
“Townsville’s property market has softened after more than six years of growth but we believe this is the calm before the next boom,” he said.
“We firmly believe the next 12 to 18 months will provide a real window of opportunity for buyers to get in on the ground floor before the next wave of price rises.
“It is fairly safe to say Townsville property won’t be getting much cheaper in the future.”
