The Great Australian Dream has long been characterised by the image of owning a spacious suburban home. Yet, as societal values and lifestyles shift, and pressures on finances continue, so too does our perception of homeownership. Millennials and younger generations are increasingly gravitating towards inner-city living with convenient amenities. Coupled with the need to attract over 20,000 new skilled workers over the next five years ahead of the region’s historic $33+ billion project pipeline, Townsville – driven largely by necessity – is emerging as a key player in the transformation of housing models, positioning itself as a prime destination for domestic migration.
Recent statistics reveal a compelling trend: approximately one in five metropolitan residents are contemplating a move to regional areas. This significant shift highlights a growing desire for the benefits of regional living, such as greater access to nature, combined with the conveniences traditionally associated with urban centres.
Historically, the Great Australian Dream has been synonymous with owning detached dwellings on a large block, and for many this remains true. However, today’s younger generations are redefining this dream with at least half of the Australian population believing the ‘Australian dream’ is no longer possible because of the rising cost of living. Prioritising proximity to work, cultural amenities, and vibrant urban environments over traditional suburban homes is also a trend with the preference for inner-city living driven by a desire for convenience, community, and lifestyle integration.
Townsville is at the forefront of this shift, remaining a competitively affordable relocation option – with average cost of living figures (housing, childcare, parking etc.) coming in 50% cheaper than metropolitan capitals, and embracing innovative housing solutions as a response to modern housing demands. Unlike traditional homeownership, Build-to-Rent (BTR) developments, for example, involve large-scale rental properties managed by institutional investors. These projects are designed with tenants’ needs in mind, offering high-quality rental units with amenities such as on-site gyms, communal spaces, and maintenance services.
Housing remains a critical focus for Townsville Enterprise – the region’s peak economic development body, with conversations underway to deliver innovative solutions on land currently available for residential land use in Townsville North Queensland.
Townsville Enterprise CEO Claudia Brumme-Smith acknowledges housing as a critical enabler to deliver on the untapped potential of the region, recognising the current housing shortage as an epidemic that could threaten the $33 billion project pipeline.
“Townsville is undergoing a significant transformation, and this is also reflected in how we approach housing solutions. The BTR model, and infill housing options represent a vital step forward, providing solutions that meet the needs of today’s renters who are looking to relocate to the region to not only to benefit from the career prospects on offer, but also the unrivalled coastal lifestyle we enjoy in the North,” Claudia says.
In June this year, through positive advocacy with the State Government, $35 million was committed to kickstart the development of Townsville’s North Rail Yards – a project offering high-density living to attract highly skilled workers to the region.
But to secure the housing stock needed to deliver the historic project pipeline for the region, numerous solutions are being called for, many driven by metro residential trends, and a demand for balance between regional and major city funding support.
“State and Federal government housing funds need to commit to regional housing versus capital cities. Regions are in critical need of support simply to remain competitive, and this ask will remain key to our ongoing advocacy.”
“Townsville has land available for development – in all forms, be that high-density or standard residential housing – but trunk infrastructure to open this land up for use is also a gap. The challenge is complex, but we have the solutions available if the right support is secured through public and private investment,” Claudia says.
The recent commitment by the Department of Defence Housing Australia (DHA) to invest in Townsville’s housing sector highlights another significant milestone, pledging to develop 500 new rental properties ahead of an influx of defence families through to 2025.
Other options being considered – and widely adopted by investors all over the country include high-density living and town houses which reflect a strategic response to changing housing preferences and demographic trends.
The city’s commitment to urban renewal also goes beyond residential housing, looking at major infrastructure projects, such as the recently secured rebuild of the Great Barrier Reef Aquarium, part of Stage 1 of the Townsville’s Waterfront Renewal project. These initiatives not only enhance the city’s appeal but also enhance an already attractive destination for those considering a move from metropolitan areas.
Townsville is positioning itself as a city that embraces innovation and change. A shift towards inner-city living and broader trends in housing and lifestyle preferences, gives Townsville prime opportunity to attract new residents and shape its future as the most liveable regional city in Australia.
