Townsville has always recognised that its diversified economy was one of its greatest strengths and the past few months has proved that to be the case yet again. When local agents hunkered down in mid-March, they believed that their market and their livelihoods would be in hibernation for an extended period.
However, by April, business as normal had started to return to the real estate landscape with sales activity and sentiment strengthening. The region’s rental market has even tightened considerably during the crisis, with the number of advertised properties falling dramatically since the start of the year.
Source: REIQ Queensland Market Monitor - June 2020, Issue 46.