20 Lonerganne Street Garbutt QLD 4814
20 Lonerganne Street Garbutt QLD 4814
Large 1012m² block |5 beds 2 baths 8 parks |Listed $550k vs $700k+ estimates |Renovator appeal in established street. This five-bedroom house on a 1012sqm block suits extended families or investors eyeing renovation potential near local schools. The generous land size stands out on Lonerganne Street, offering ample space for parking multiple vehicles or future expansions amid typically smaller lots nearby. Its substantial footprint covers 32% of the site, leaving room for gardens or additions that could enhance liveability for multi-generational households. Positioned in a residential zone with flood overlay, it demands buyer awareness of risks but benefits from reliable NBN and 5G access for modern needs. Savvy renovators or builders drawn to such properties value the solid structure and low building coverage as a canvas for value-add updates. Similar large-block homes in the area have held steady through market shifts, buoyed by Garbutt’s family-oriented buyer pool and school catchments. Long-term appeal lies in the block’s scarcity, supporting holding value as Townsville’s demand for spacious family sites persists. At its asking price well under estimates, it positions as a calculated entry for those prioritising land over immediate polish. Rental yield potential around $700 weekly adds income stability for owner-occupiers testing the market.
Market Insight:
Garbutts pull comes from its affordability inside the Townsville catchment, strong rental demand, and a buyer pool chasing short days-on-market and solid yields above 5%. House and unit values continue to run higher, with the median tracking double-digit year-on-year gains so the last six months still show upward momentum and a preferred battleground for investors and second-home buyers. Keep an eye on limited fresh stock and borrower sensitivity, but well-presented homes near services still capture the bulk of the activity and benefit from wider regional infrastructure confidence.