Question 1

Is Pimlico a nice place to live?

Accepted Answer

Pimlico sits close to the Townsville city centre and Castle Hill and has a settled, residential character. Most homes are low-set houses, older timber cottages and modest brick dwellings alongside some newer low-rise units, and many streets are shaded by mature trees. Local parks and community sportsgrounds provide outdoor space and regular bus services link residents to nearby hospitals, schools and the waterfront, so day-to-day errands and travel are practical for a range of households.

The suburb is home to 2,557 people with a median age of 39 and a median weekly household income of $1,128. Families are prominent, with around seven in ten family households being couple families, and dwellings are more often rented than owner-occupied. There is also ongoing local investment, including a redevelopment of the former TAFE site planned for up to about 150 homes and active transport upgrades around the high school and TAFE campus.

Question 2

Is it expensive to live in Pimlico?

Accepted Answer

On the figures for Pimlico, the median house price of $629,500 works out to about 10.7 times a typical local household's annual income at the last Census (median household income $1,128 a week, or $58,656 a year). Renting a house at around $500 a week would take roughly 44.3% of that weekly household income, a large share, while renting a unit at about $375 a week would take about 33.3%, a sizeable share. Buying a house therefore sits well above what local households earned at the last Census, while renting still claims a substantial portion of a typical local household's income.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Pimlico a good place to invest?

Accepted Answer

House values in Pimlico climbed 25.0% over the past 12 months, while unit values rose 14.2%. Rents moved more modestly: house rents were up 4.6% and unit rents increased 4.2%.

That means capital growth outpaced rental growth over the year, with houses the stronger performer on the value side. If rental income is your priority, the rent figures are the operative numbers; if you’re focused on capital growth, the sizable value gains are where the movement has been. Whether that makes Pimlico the right investment for you depends on your goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$630K	N/A
Change in value Past 12 months	25.0%	14.2%
Sold Past 3 months	18	3
Median days on market Past 12 months	20	11
Average rent Past 12 months	$500	$375
Change in rent Past 12 months	4.6%	4.2%

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