This Suburb Has Grown More Than 50% In 3 Years

Townsville is no secret within the property investment community, in fact the suburb has been exploding in growth since 2022 and continues to grow without much deceleration. Is it still a good time to jump into the market or has the ship sailed?

Suburb Details:

Since 2022 property prices in Condon have risen 50% and as supply dwindles and interest grows within that suburb, prices are continuing to grow rapidly. After discussing with property agents within the area, houses are being sold for $20-30,000 more than the listing price. This is forcing investors to overpay because of the fear of missing out (FOMO). Condon has certainly not peaked in terms of capital growth however as an investor you are no longer purchasing at the bottom of the market. You must remember when purchasing in Condon you will have to pay over the listing price as Townsville is an extremely hot market at the moment.

Key Data Metrics

Location & Infrastructure

Condon is a suburb in Townsville, Queensland, about 15 kilometres southwest of the Townsville CBD, along the Ross River. It offers a mix of homes, schools like Condon State School, and recreational spots such as the Riverway complex with swimming lagoons and walking paths. Nearby amenities include Willows Shopping Centre and Riverway Plaza. Healthcare is provided by local clinics and the Townsville University Hospital. Public transport is available via Sunbus, ensuring access to other parts of Townsville. Condon combines residential living with convenient amenities, making it a desirable suburb. There are still large pockets of developable land which developers can build into housing or into new amenities. As the suburb borders along the Ross River you must analyse the flood maps when deciding to purchase a property here. Furthermore assess the flight paths and decide whether your property falls under a high noise location within the suburb.

Other Important Factors:

Condon as a suburb has grown over 50% in the past 3 years meaning that investors have potentially missed out on significant growth. Past performance is not necessarily an indicator of future capital growth.

Vacancy rates are incredibly low sitting at 0.57%, meaning demand will high and as Townsville remains a hot market expect prices to continue growing. There are also very little development applications for new houses to be built in the area this ensuring further supply demand metric in favour of investors.

Nearby Major Projects:

• Major Projects In Townsville - Link

Example Property:

_{*Note: These calculations are purely estimations, but overall numbers will vary depending on your deposit, interest rates and other factors.}

Pro’s Of Investing In Condon

• Strong rental yields, possible achieve to 6-7%.

• A number of infrastructure projects happening driving demand up.

• Easy access to airport & only 10 minutes to town centre.

• Days on market is average however supply is low → Strong Demand.

• Townsville in general is an extremely hot market.

Con’s Of Investing In Condon

• Condon falls under a flood zone. Higher insurance costs. Also higher council rates.

• The suburb has grown more than 50% in 3 years (no longer at the bottom of its cycle).

• Large pockets of developable land, areas of future incoming supply.

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_{Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial, legal, or professional advice. Always do your own research and consult with a qualified professional before making any decisions. The opinions expressed here are solely those of the speaker and do not reflect the opinions or views of any other organization. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.}