Optimistic outlook for Townsville and Mackay
December 22, 2017
We have been busy in North and Central Queensland in recent months and with good reason – there are tremendous opportunities now in this region after some challenging economic times.
Optimism is growing in major centres such as Townsville and Mackay which will both benefit from a lift in the resources sector, particularly if/when the Adani project gets underway. Townsville and Mackay are producing green shoots after a tough period. Total employment has grown more than 12 per cent in Townsville over the last 12 months in what shapes as a significant revival in Australia’s 13th largest city with some key infrastructure projects and the Super Stadium under way. A go ahead for Adani should see a lot of other projects proceeding in the Galilee Basin and the start of a boom which could last for two decades.
Sentinel has been a major investor in North and Central Queensland for many years and will continue to have a large footprint in the region. We are proud to have shown faith in these regions during the downturn and our decision to run against the herd when it comes to our investment decisions has been vindicated.
We buy where others fear to go and we have a track record of adding value to those properties and delivering a good return for our investors. If you are buying at or near the bottom of the market the chances of achieving growth are very strong. Most others tend to buy near the top of the market after it has already run strong for a few years.
Due to tightening of real estate lending across the board, finance continues to be a significant challenge for many buyers and in some instances is impossible. This creates opportunities for Sentinel as our solid track record means we continue to receive support from financiers.