Home Loans, now available with a relaxed lending criteria
Wednesday 23rd February 2011
Local home buyers will now benefit greatly from the associations of Tropical Homes in the financial lending industry, bringing people closer to their dream of home ownership
For many people who dream of home ownership, obtaining a home loan has been excruciatingly difficult over the past 12 months, making it almost impossible to enter the property market – and this hasn’t stopped at new home buyers, it has extended to second and third home buyers and even investors in many circumstances.
Population Growth amongst the strongest in Australia
Townsville: Capital of Queensland's North
Townsville is the largest city in Tropical Australia and is the capital of North Queensland.
- Townsville’s population reached 175,700 in 2008, with average growth of 3% per annum over the past five years – well above growth of 2.3% recorded for Queensland
- Growth is expected to continue at around 3.0% per annum into the foreseeable future, with a population of over 200,000 by 2013
- By 2031 Townsville’s population is forecast to be 317,700, an additional 142,000 people compared to 2008
First Home Buyers Information
How much do I need to save for a deposit?
The deposit required depends largely on the type of home loan and, of course, the lender you select. As a general rule, if you are an owner-occupier you will require 5-10% of the purchase price as a deposit. If you are an investor, you will ideally require 10% of the purchase price, although it’s possible to purchase with less.
What is the First Home Owner Grant?
$17,000 for first home buyers who buy or build a new home
No transfer duty on first homes under $500,000
As a first home buyer purchasing or building a new house, townhouse or unit under $600,000 in value, you may be eligible to receive the Queensland Government’s Building Boost Grant of $10,000. Combined with the First Home Owner Grant, you may be eligible for grant assistance totalling $17,000.
Access the links below to find out if you may be eligible and to learn more about the grants, including how to apply.
Townsville Economic Overview
Townsville: Capital of Queensland's North
Townsville is the largest city in Tropical Australia and is the capital of North Queensland.
- Characterised by a strong, balanced economy
- Recognised as having Australia's most diverse regional economy
- Economic growth has averaged 8.9% per annum over the 2003 to 2008 period
- Townsville Gross Regional Product, estimated at $8.2 billion in 2007-08, represents growth of 18.1% over the previous year
- Significant industries include construction, manufacturing, property and busines services, health and education and public administration and defenceTownsville's employment profile is consistent with a maturing serviced-based economy
Townsville ideal as the second state capital
Townsville's continuous population growth, continued development and urban growth make the northern city a valid candidate for Queensland's secont State capital.
Recently released population data from the Australian Bureau of Statistics (ABS) lends support to the premier Anna Bligh's recent suggestion that Townsville could be the second State capital in a plan to shift some of the enormous growth in the south-east corner of the State to the regions.
Social & Economic Infrastructure
There is currently over $2.84 billion of infrastructure investment underway or proposed and $4.71 billion awaiting start for the region.
- Transport
- Electricity/Gas and Water
- Education
- Health
- Commercial Infrastructure
- Social Infrastructure
- Defence
What's the Military worth to Townsville
AT LAST, we know just how much the military means to the Townsville economy - more than $1b.
- That's according to a James Cook University economics lecturer Dr Riccardo Welters.
- At the moment, Defence is worth $300m in wages every year, locally produced goods and services to the tune of $150m and goods and services produced elsewhere but supplied locally worth $65m.
- Indirectly Defence is responsible for another $656m annually in the Townsville economy.
Australia's best economy
Verdict from top economists
North Queensland is about to become the talk of the nation after leading property figures yesterday rated Townsville as Australia's top regional economy.
Industry expert Terry Ryder said Townsville had the strongest economy of any region in the country.
My Ryder authors a popular website that identifies hot property locations and writesw for The Australian.
Townsville in Focus
Herron Todd White - October 2010
Overview
Townsville’s residential property markets have experienced very little change over the last three months.
Our Townsville residential property clock – refer Image 1 in the PDF document (scroll down and click on link to view document) – has remained frozen at the start of recovery phase since the start of 2010 and does not yet warrant further advancement. There are glimmers of a recovery in some locations and sectors, but they are still not yet sufficiently widespread for us to call a general market recovery.
Great time to invest in property
MEDIA RELEASE – FOR IMMEDIATE USE
Monday 7rd March 2011
Recent data published by the Office of Economical and Statistical Research indicated Townsville was the largest growing local government area outside of southeast Queensland and the fifth largest growing in regional Australia.
Taking a step further into the statistics and focussing on the property market, many people are now aware that Kirwan has been named by The Real Estate Institute of Queensland as the most popular Queensland suburb for house sales outside of the south-east, and the fourth most popular suburb Queensland Wide. Being close to all infrastructures, local amenities, social and sporting facilities, schools and restaurants makes it an ideal location to live – and invest.