15 July 2008
Media Release
A new report has found Townsville’s apartment prices remain resilient as Australia’s property climate continues to be shrouded in uncertainty.
Warwick Bible, CEO of Meridien said even with prices in some capitals decreasing, further interest rate rises from Australia’s main banks will push investors to look for alternative investment options.
“Investors are being priced out of the East Coast capitals but regional cities like Townsville and Airlie Beach offer investors a range of opportunities,” Mr Bible said.
“New apartments continue to show value for growth and waterfront is constantly the most sought after position.
“As the market remains increasingly turbulent in capital cities, demand for regional waterfront will see the strongest growth.”
According to a report by Independent Property Advisers, Herron Todd White, unit sales remain buoyant in the face of declining house sales in Townsville.
Research Director for Townsville and Cairns at Herron Todd White, Rick Carr said unit sales volumes remain steady and in most cases are slightly increasing.
“New units are doing particularly well in the current market climate with further opportunities for capital growth available,” Mr Carr said.
Developments such as Meridien’s $90 million One Bright Point, just 20 minutes from Townsville City Centre on Magnetic Island is offering encouraging growth prospects for investors.
Mr Bible said One Bright Point offers investors an oceanfront island address a stones throw from a major regional city.
“For less than $500,000 you can own an apartment on an island in the Great Barrier Reef. The same apartment on the Brisbane River would be three times that and it’s not going to take investors long to realise regional Queensland is a great deal,” Mr Bible said.
One Bright Point comprises 124 luxury beach house style apartments, each one benefiting from the cool ocean breeze that sweeps through the suites to refresh guests.
There are some two bedroom apartments available for sale ranging in price from $495,000 for Oceanside to $790,000 for Oceanfront. Three bedroom apartments are selling fast with prices starting from $850,000 to $1.5 million for a luxury 3 bedroom, 2 bathroom ocean front apartments with views over the Coral Sea.
One Bright Point won the top prize at the Australian Institute of Building Awards last year proving it is the State’s ultimate waterfront address. The One Bright Point development won the Professional Excellence Award in the category of RESIDENTIAL CONSTRUCTION $50 million - $100 million.
Meridien is currently offering investors a One Bright Point finance package deal in conjunction with ANZ Bank. Pay 60% of the purchase price now and pay the remaining 40% in three years time - interest free.
For more information on One Bright Point telephone 1300 667 826.
For further information contact Shaun Rigby at Sequel Communications on 3251 8140 or 0438 021 936 / Nicole Marino at Sequel Communications on 3251 8126 or 0418 222 516.