The month in review: Toowoomba
By Herron Todd White
June, 2010
Generally, owner-occupiers are the most active buyer group in Toowoomba followed by local investors and
non-local investors.
These owner-occupiers are looking for eastern suburb
colonials, generally in areas close to the CBD, where
there is limited stock. Buyers start to consider alternativelocalities depending upon their price range.
This buyer type has not changed during the past number
of years with good steady growth generated in these
eastern suburbs as a result.
Overall buyer sentiment in Toowoomba is considered to
be cautious with consecutive rate rises reducing activity.
The dominant buyer demographic at the moment is
considered to be buyers between the ages of 30 to 50,
with families, looking to upsize or relocate. Prior to the
reduction of the first homebuyers grant and the GFC,
the dominant buyer demographic was the 20 to 30 age
group bracket. This segment generated good growth in
the sub $350,000 price bracket whereas more recently we
are seeing a reduction in activity from this group.
Those buyers who are more cashed up appear to be
more active in the market place at present, being less
susceptible to interest rate rises. In comparison, many
first home-buyers are progressively finding it harder to
enter the market.
Agents are reporting a lift in activity in the western
suburbs for both rentals and buyers looking for new fourbedroom
two-bathroom brick homes. This could indicate
a number of interesting factors coming to fruition,
including a lack of affordable housing and an increase in
wages for blue-collar workers. This could be a result of
the mining and energy industry either paying more for
qualified workers or local employers having to pay more
to keep employers from the mining and energy industry
poaching their employees.
Inter and intra state investors are not a dominant buyer
group here locally in Toowoomba but make up a large
share of the property transactions in towns such as
Dalby and Chinchilla, which are heavily influenced by the
mining and energy sectors.
Some developers are focussing their end product on the
investor segment, building on ground slab constructed
dwellings. Local buyers prefer pier and beam-constructed
homes due to the volatile soil types. Investors looking to
buy an investment property are getting more bang for
their buck with an on ground slab constructed home
where the tenant is happy in either construction type.
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