31/1-7 Gregory Street, North Ward QLD 4810
31/1-7 Gregory Street, North Ward QLD 4810
Unit in boutique complex | Beachside-garden position | Strong rental demand | Premium complex amenity | Mixed-use zoning uplift potential
This property competes in North Ward’s tighter unit market, where compact two-bedroom stock with genuine amenity stands apart from older cottage conversions. The complex itself—with lift access, pool and spa, onsite management, and parking—delivers a lifestyle package that appeals strongly to professionals, downsizers, and investors seeking low-maintenance coastal living. Positioned opposite Queens Gardens and a short walk to the Strand, the unit captures the suburb’s best everyday convenience: beachfront, parkland, dining, and the CBD all within easy reach. For a buyer wanting a lock-and-leave base with rental upside or a holiday-style retreat, this configuration sits comfortably at the desirable end of North Ward’s unit market, where demand is steady and quality stock is limited.
Value may be shaped by the unit’s exact floor level and aspect—ocean glimpses and breezes in parts of the complex tend to command a premium, while lower or garden-facing units might trade more modestly. The property’s medium-density zoning could offer future redevelopment potential, though this depends on site consolidation and council appetite. Flood and bushfire overlays are worth noting but are common across much of coastal Townsville and rarely deter informed buyers. Body corporate levies, reported around $1,744 per quarter for a comparable unit, should factor into yield calculations. The mix of older cottages and newer apartment stock in the immediate street means presentation and complex condition will heavily influence perceived value.
|| Comparable Sales: 53/45-47 Gregory St sold $600,000; 30-32 Gregory St unit profile near $730,000 | Property Price Band: $550,000–$650,000 | Value Drivers: complex amenity, proximity to Strand and gardens, medium-density zoning potential
Detailed Independent Property Report prepared by PropCred Analyst team for 31/1-7 Gregory Street, North Ward QLD 4810
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
North Ward’s market is defined by high demand and rapid turnover, with houses selling in under 30 days. Singles and downsizers are key demographics, driving a market where apartments dominate the housing stock. Recent price growth is strong, with median house prices rising 8.5% to 30.8% annually, while units have seen increases of 15% to 29.6%. This momentum is supported by tight supply, with only 53 properties listed last month, and solid rental yields of 4.06% for houses and 5.22% for units. Future growth is underpinned by this persistent demand-supply imbalance, though the low inventory presents a key constraint for buyers.
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PropCred Estimated Value
Comparable Sales: 53/45-47 Gregory St sold $600,000; 30-32 Gregory St unit profile near $730,000 | Property Price Band: $550,000–$650,000 | Value Drivers: complex amenity, proximity to Strand and gardens, medium-density zoning potential
Bedrooms
3
Bathroom
2
Parking
2
Land
1 acres
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