Project name: Townsville Market Overview
Client: Lancini Group
Location: Condon, Townsville (QLD)
Brief: MacroPlan was commissioned by Lancini Group to undertake an economic assessment of a proposed Greenfield residential estate including 130 lots with 13 duplex sites in Condon, located 13 kilometres south-west of Townsville CBD. Our brief included a review of various economic and demographic trends on a state, regional and local level to inform prospective owner occupiers / investors on residential market conditions.
Methodology: A number of factors were investigated in order to assess residential market conditions specific to Townsville and the Condon growth area. Research included the following:
- State growth i.e. high level economic trends;
- Townsville’s regional population and industry growth trends;
- Townsville’s current major projects and corresponding estimated values;
- Condon population forecasts;
- Local price points and median sales values;
- Local vacancy rates, rental rates and residential yields;
- Key locational advantages; and
- Significant local projects.
Result: MacroPlan produced a market and economic justification report to explain “why this development in this location?” and “why now?” The executive summary style report included key indicators, data sets and maps in user-friendly manner and was used by the developer as a marketing tool.
Services: Residential market overview, population forecasts, contextual overview