Townsville, located in North Queensland, has become Australia’s top destination for internal migration.
Known for its robust infrastructure, growing economy, and desirable lifestyle, Townsville is a magnet for those seeking new opportunities and a vibrant community. The city is also the focus of the Townsville City Deal (TCD), a 15-year partnership between the Australian Government, Queensland Government, and Townsville City Council. The TCD aims to transform Townsville into:
The economic gateway to Asia and Northern Australia,
A global leader in tropical and marine research and innovation,
A prosperous and highly liveable city for residents and visitors by 2030.
Here’s why Townsville is emerging as a prime location for property investment and relocation:
Unprecedented Population Growth and Migration
As of June 30, 2023, Townsville's population stands at 201,433, with projections forecasting an increase to 264,899 by 2046, representing a steady annual growth rate of 1.2%. Townsville has experienced a remarkable 500% surge in internal migration over the past year, becoming the number one hotspot for Australians relocating within the country. The appeal lies in Townsville’s affordable lifestyle, strong job market, and competitive property prices, making it an ideal destination for those seeking a new home.
Federal and State government funding:
$1.5B for Townsville Hospital and Health Service.
$71 million to maintain, improve and upgrade schools in Townsville.
$1 Billion for productivity-enhancing infrastructure and capital works, estimated to support 4,200 jobs in Townsville.
The federal government is Delivering better services for Townsville
490 extra nurses up 22.9%
304 extra doctors up 50.6%
96 extra ambulance officers up 37.6%
31 extra firefighters up 20.6%
Kirwan Police Complex: North Queensland's Largest Police Facility
The Queensland Government is undertaking the development of the new Kirwan Police Complex on the site of the former 1300SMILES Stadium. This project will be the largest Queensland Police Service (QPS) facility in North Queensland and one of the biggest in QPS history.
The first stage, expected to be completed in 2025, includes the construction of a $45 million Kirwan Police Station, a new PoliceLink call centre designed to accommodate 50 personnel, a Domestic, Family Violence, and Vulnerable Persons Unit, along with other specialised QPS functions. The $100 million second stage will involve relocating the North Queensland Police Academy and Townsville Dog Squad. The new academy will feature state-of-the-art, adaptable training facilities to support specialized scenario-based police training.
Major Infrastructure Projects Driving Economic Growth
Townsville is currently undergoing significant infrastructure developments, laying the groundwork for sustained economic growth and job creation. Key projects include:
Lansdown Industrial Precinct: A 2,200-hectare development aimed at becoming Northern Australia’s leading hub for advanced manufacturing, technology, and emerging industries. Supported by $74 million in government funding, this project is expected to generate significant employment opportunities both during construction and ongoing operations.
Townsville Hydrogen Hub: With a $70 million investment from the Federal Government and an additional $140 million from the Queensland Government, the hydrogen hub is set to create regional jobs, support the transition to a clean energy economy, and contribute to decarbonization efforts.
North Queensland Stadium: A $250 million project that will solidify Townsville's status as a major destination for sports and entertainment, boosting tourism and local business activity.
Port of Townsville Expansion: This $1.64 billion expansion project, including channel widening, will enable the port to handle larger vessels, enhancing trade capacity and creating more jobs in transport and logistics.
Sun Metals Zinc Refinery Expansion: A $300 million expansion of the refinery will further strengthen the manufacturing sector and provide additional employment opportunities in the region.
Renewabl Energy: A Leader in Solar Power
Townsville is a significant player in Australia’s renewable energy sector, home to one of the country’s largest solar farms. The Ross River Solar Farm, a $225 million development, spans 202 hectares and includes nearly half a million solar panels, generating 300,000 MW annually—enough to power 54,000 homes. The project also created over 200 jobs during its construction, employing professionals across various fields, including engineering, civil contracting, and telecommunications.
Defence Force: A Critical Component of Townsville’s Identity
Townsville plays a vital role in the national defence framework, housing over one-third of the Army’s deployable combat capability. Nearly 6,000 Defence personnel are stationed in the city, and an estimated 9,000 military veterans and their dependents, making up about 8% of the city’s population, call Townsville home. The city’s strong connection to the Defence community is further bolstered by a significant number of ex-Defence personnel who have settled in Townsville. This veteran workforce is a valuable asset, retaining defence clearances and possessing highly desirable skills, experience, and qualifications, contributing to the local economy and community.
Diverse Economy and Employment Opportunities
Townsville’s economy is diverse, with key industry sectors contributing significantly to the region’s economic output:
Public Administration and Safety (including Defence): 14% of the local economy.
Health and Social Assistance: 11% of the economy, employing 12,569 people.
Education and Training: 7% of the economy.
Manufacturing: 7% of the economy, employing 4,037 people.
Transport, Postal and Warehousing: 7% of the economy, employing 4,122 people.
Construction: 7% of the economy.
These sectors combined contribute $2.67 billion in gross value added, employing over 24,500 people, or 28% of the region’s workforce.
Tourism: Gateway to the Great Barrier Reef and Magnetic Island
Townsville is the gateway to two of North Queensland’s most iconic attractions: the Great Barrier Reef and Magnetic Island. The Great Barrier Reef, one of the natural wonders of the world, attracts thousands of tourists annually who come to explore its vibrant marine life and stunning coral formations. Magnetic Island, just a short ferry ride from Townsville, offers a tranquil escape with its secluded beaches, hiking trails, and abundant wildlife, including koalas and rock wallabies.
Tourism plays a crucial role in Townsville’s economy, with the city serving as a hub for visitors exploring the broader North Queensland region. The combination of natural beauty, outdoor activities, and rich cultural experiences makes Townsville a top destination for both domestic and international traveler's.
Attractive Property Prices and Strong Rental Market
Townsville offers competitive property prices compared to other major cities, making it an attractive option for investors. The city's rental market is also thriving, with demand continuing to outstrip supply, putting upward pressure on rents. This presents a lucrative opportunity for investors seeking strong rental returns in a market with significant growth potential.
Quality of Life and Recreational Opportunities
Townsville offers a high quality of life with its beautiful beaches, tropical climate, and rich cultural scene. The city’s ongoing infrastructure projects, such as the Lansdown Industrial Precinct and the Port of Townsville expansion, will further enhance its appeal as a vibrant and dynamic regional hub to live, work and play.
Conclusion
Townsville is more than just a city in North Queensland; it is Australia’s top destination for internal migration, a thriving and diverse region poised for significant growth. With affordable property prices, strong economic fundamentals, substantial infrastructure investments, a commitment to renewable energy, a crucial role in national defence, and world-class tourist attractions, Townsville offers immense potential for both investors and homebuyers. The city’s booming population, major projects, employment opportunities, and vibrant lifestyle make now the ideal time to invest in this dynamic region. Don’t miss out on the opportunity to be part of Townsville’s exciting future.
For further information or personalised advice on investments in Townsville, contact our team at IFS Mentor. Happy investing!