5 days ago
Townsville housing dilemma prompts council action as prices skyrocket
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Townsville City Council is trying to make a dent in the housing crisis as existing stock dries up and property vales doubled in the past two years.
The council's end of year development activity for 2024/25 report showed that $154m worth of residential building applications were approved during the quarter.
Acting Mayor Ann-Maree Greaney said the report showed Townsville was continuing to go from strength to strength.
'The last quarter of the 2024/25 financial year included the approval of two major subdivisions for future development at Gumlow and Cosgrove, with the potential to deliver 345 and 325 lots respectively,' she said.
Acting Mayor Ann-Maree Greaney said Townsville is going from strength to strength. Picture: Evan Morgan
'We've also had an increase in detached dwelling approvals, with more than 270 approvals being issued in the final quarter of the 2024/25 financial year.'
'This report shows how Townsville continues to sustainably grow its residential housing offering in line with our population growth.'
This comes as the council's City Activation and Housing Incentive Policy produces positive results in the first 12 months.
Under the policy 38 new, repurposed and urban infill development applications were received.
Out of those applications, 32 were successful for new lot creation at different sites around the city.
New lot creations come with infrastructure waivers capped at $75,000, with approved sites in areas such as West End, Kelso, Belgian Gardens and Currajong.
This year, the state government also announced of $29.5m in funding for the delivery of critical road infrastructure in Townsville last month.
'The recently announced approval of council's Residential Activation Fund application means Townsville will be able to unlock more than 4,000 new homes in our northern beaches,' Cr Greaney said.
'Council will continue to work with the Queensland government and the development industry on applications for future funding rounds to fast-track the infrastructure we need to grow Townsville.'
Housing prices in Townsville have doubled since 2019.
In the council's fourth quarter Development Activity Report for 2024/25, 151 residential lots were approved. It was the third highest with 409 in the second quarter, which was the most for residential lots in a decade, and 187 in the first quarter.
At the time, a council spokesman told the Townsville Bulletin the housing supply shortage wasn't unique to the region.
Townsville's property market has doubled in price since 2019, and in July property values reached new heights with 25 months of consecutive house increases.
Rent dropped or remained stable in the May quarter across half of Townsville, with rent down in three suburbs, stable in seven and up in seven, with North Ward experiencing the biggest drop of that quarter of eight per cent.
Originally published as New housing developments skyrocket as Townsville battles rising property prices
