Toowoomba

The Smartline Report – June Edition

The month in review: Toowoomba

By Herron Todd White
June 2015

As we approach the second half of 2015, the Toowoomba residential property market continues to experience an upswing.

Due to reduced mining activity in surrounding locales as mining projects shift to operational phases, we may see the incline experienced in these areas in the first half of 2015 begin to ease at some point in the second half of 2015.

At present, the greater 4350 postcode demonstrates a vacancy rate of 3% which has increased from the sub 2% recorded in the early stages of 2014 and there has been a reduction in unit and small lot development activity from the investor market.

Despite this, low interest rates and the robust nature of the Toowoomba market have enabled momentum to remain stable in other sectors and land values continue to rise as demand outweighs supply.

As for sales, while there is a firming consumer sentiment as asking prices across all property types continue to rise, it is the sub $450,000 price bracket that is likely to remain the most popular due to its affordability and proven broad market appeal.

Across the board, the Toowoomba residential market has performed in line with expectations and thanks to low interest rates, this period of upswing looks likely to continue into the second half of 2015.

www.smartline.com.au

Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © Smartline Home Loans P/L 1999 – 2015. Australian Credit Licence Number 385325

 

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