Property Market Insights
In January the Money Magazine listed Toowoomba as number 8 on their list for property markets expected to boom from infrastructure spending, featuring as their Regional Pick. We featured as a relatively independent market which continues to receive more infrastructure and investment year after year. As reported by Anna Porter, "Toowoomba is one of the strongest regional performers in the infrastructure race and has been for some time now. The area saw great benefit from a number of projects, most notably the Wellcamp Airport and the Second Range Crossing. The Toowoomba postcode recorded a 12 month growth rate of 8.13% for the year to July 2017, and also hit double digit growth for 2013 and 2014, with steady growth every year since. This is a good outcome for a market as isolated as Toowoomba".
I am an avid fan of Toowoomba and over the past week we have had several people fly in from Melbourne looking for well priced properties, that can be developed .... we are definitely seeing an increase in investors back in the market. While this is only my observation of current market activity, from the chart below you can see why we might be seeing an increase in buyers and some in the industry might refer to it as the property clock. I have based this on one suburb only(Rangeville) and this information has been supplied by (PriceFinder)
Some would say we have hit that sweet spot where, there is a scarcity of properties 'On The Market' and statistically over the past three years the market is at one of it's lowest points before the peaks of spring. So if you have the intention of purchasing there are some prime properties ripe for the picking in Toowoomba with some producing gross returns of 5.45%.
Homes under $300,000
Below are examples of suburbs and number of homes that are currently On The Market
- 2 - Toowoomba City
- 55 - Newtown
- 36 - Harristown
- 4 - Centenary Heights
- 7 - North Toowoomba
- 29 - Rockville
Market Update
If you are requiring more information about properties in this price bracket or investment opportunities please get in touch EMAIL or call M: 0400 968 319.
If you are in the Toowoomba Region and thinking of selling, I am more than happy to complete an appraisal and look at the best timing for you.
(this is not for financial advice - purely my observation)
Leanne Gillam
Sales Agent - McGrath Toowoomba
