A simple way to find a mortgage broker in Townsville

Information verified correct on December 3rd, 2016

Find an experienced mortgage broker to help you find the right home loan to buy property in TownsvilleMortgage Broker Townsville Feature Image

As a gateway to the World Heritage-listed Great Barrier Reef and located on the north-eastern coast of Queensland, Townsville attracts tourists from across Australia and the world.

Townsville is Australia’s largest urban centre north of the Sunshine Coast and with a tropical climate and an increasing cosmopolitan lifestyle, it’s a great place to live for many.

If you need a home loan to purchase a house, apartment or unit in Townsville, the best thing you can do is find an experienced mortgage broker.

Which brokers have offices in Townsville?

Broker Details No. of Lenders
Aussie Home Loans Details and Application
Aussie Home Loans

Aussie is one of Australia's leading financial service providers, having won The Adviser’s Top Mortgage Broker award for the last 3 years. They charge no appointment fees and can meet at a time and place which suits you.

20 Enquire
More info
Online Home Loans Details and Application
Online Home Loans

Online Home Loans is a mortgage broker service designed to help Australian borrowers find the right home loan – and do it all online.

Enquire
More info
iConnect Financial Services
iConnect Financial

iConnect has hundreds of loans available through more than 40 lenders in Australia to choose from to find the home loan that is right for you.

40+ Enquire
More info

Other Townsville brokers

  • Mortgage Choice Townsville
  • Townsville Finance Brokers
  • The Loan Market
  • All Finanz Solutions
  • Heart Financial
  • AAA+ Financial Solutions
  • Green Light Home Loans
  • Huggable Home Loans
  • Homeloans Townsville
  • Money Stuff

What will a typical mortgage cost in Townsville?

The median sales price for a house in Townsville in 2015 is $645,000 so you’d need a 20% deposit of $129,000 to take out many standard home loans.

If you borrowed the remaining $516,000 at an interest rate of 4.50% p.a. on a 30-year loan term, you’d need to make monthly repayments of $2,614.50 for a total loan cost of $941,218.63.

The median unit price in 2015, meanwhile, is $410,500, which means a 20% deposit would equal $82,100. If you borrowed the remaining $328,400 at 4.50% p.a. for 30 years, your monthly repayment would be $1,663.95.

What are the main suburbs within Townsville?

townsville

Source: Google Maps

1. Kirwan

Situated in Townsville’s western suburbs and about a 20-minute drive from the CBD, Kirwan has a population of 21,771.

The two largest demographic groups in Kirwan are established couples and families (20.8%) and older couples and families (20%).

The median house price in Kirwan is $340,000 and the median unit price is $255,000.

House prices have an average annual growth of 2.82%, a weekly median advertised rent of $360 and gross rental yield of 5.43%.

3. North Ward

The beachside suburb of North Ward sits just to the north of Townsville City and overlooks Magnetic Island.

With a population of 5,099, North Ward’s largest demographic groups are maturing and established independence (23.4%) and independent youth (20.2%).

The median house price in North Ward is $657,500 and the median unit sales price is $265,000. Having experienced 12-month growth of 31.4%, houses in North Ward boast a gross rental yield of 2.73% and average annual growth of 4.72%.

2. Douglas

Located 10km southwest of Townsville’s CBD and on the southern side of the Ross River, Douglas has a population of 7,184 people, of which 22.7% are independent youth and 17.6% are maturing couples and families.

The median sales price for houses in Douglas is $381,000, while annual capital growth of 3.49% and gross rental yield of 5.07% are other key figures.

The median sales price for units in the suburb is $325,000.

4. Cranbrook

Found eight kilometres southwest of Townsville City, Cranbrook has a population of 6,146 people, of which 20.5% are older couples and families and 15.6% are established couples and families.

While the median sales price for units in Cranbrook is $183,000, the median house price is $285,000.

House prices have an average annual capital growth of 3.56%, the weekly median advertised rent is $320 and the gross rental yield is 5.84%.

Buying property in Townsville

Keep the following factors in mind if you’re thinking of buying property in Townsville:

  • High unemployment. According to figures from CommSec released in November 2015, Townsville has one of the 15 worst unemployment rates in Australia of 8.3%.
  • Property prices. The median sales price for houses in Townsville City has fluctuated substantially in recent years. From $382,500 in 2006, prices rose to $662,500 in 2012 but then had dropped down to $370,000 by 2015. However, as these figures are heavily influenced by the limited number of sales in Townsville City, you’ll need to look at median sales prices for houses in Townsville suburbs (details below) for a better indication of market performance.

Suburb property prices in Townsville

Kirwan

The median sales price for houses in Kirwan has dropped every year since 2010, falling from $375,000 in 2010 to $340,000 in 2015.

Mortgage Broker Townsville - kirwan graph

Source: APM PriceFinder

North Ward

Median house sales prices in North Ward increased from $545,000 in 2014 to $657,500 in 2015.

Mortgage Broker Townsville - north ward graph

Source: APM PriceFinder

Douglas

The median sales price for houses in Douglas dropped from $396,000 in 2014 to $381,000 in 2015.

Mortgage Broker Townsville - douglas graph

Source: APM PriceFinder

Cranbrook

Median house sales prices in Cranbrook have fallen from $300,000 in 2013 to $285,000 in 2015.

Mortgage Broker Townsville - cranbrook graph

Source: APM PriceFinder

How is a mortgage broker paid?

Generally brokers receive an upfront commission when the loan is taken out and a recurring commission based on the outstanding loan amount each year.

Brokers also have to pay a clawback commission fee to the lender if you opt to refinance your home loan with another financial institution.

Find out about how mortgage brokers are paid

How does a mortgage broker work?

The first thing a mortgage broker will do is assess your financial situation and your home loan requirements. After taking these factors into account, a broker can then present you with a range of suitable mortgage choices, which they are able to access from a panel of lenders through an aggregator.

Read more about the mortgage broking process


Picture: Riverway lagoons and Ross River View by jojo, licensed under Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Generic (image cropped)

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