New figures released by the Real Estate Institute of Queensland (REIQ) reveal the Toowoomba Real Estate Market has performed ‘steadily’ over the past 12 months, with Newtown considered the standout suburb.
According to the REIQ, Newtown’s median house price rose by 4% to $322,500 during the June quarter.
Newtown remains a popular choice for First Home Buyers and families due to the suburbs character, affordibility and short distance to the CBD.
While Newtown recorded the highest number of sales in the last quarter, Rangeville had the highest number of sales for the year at 161.
The REIQ’s latest report also had some extremely positive news for Oakey’s Real Estate Market. Oakey was named as the REIQ’s best performer in the past 12 months, where the median house price has increased by 11% to $241,500! It is fantastic to hear of Oakey’s growth!
Leyden Rise Estate , Oakey – Land for just $115,000 currently For Sale with Colliers International Toowoomba
There are currently a number of ‘hot suburbs’ in the Toowoomba area and below we will look at three suburbs, which have been performing well. If you require more information on your asset, or would require a market appraisal no matter where it is located, simply reply to this email.
Rangeville QLD 4350
A longstanding favourite and top performing area, Rangeville has once again topped the list of Toowoomba’s Hottest Suburbs.
Over the first three quarters of 2018, 161 homes changed hands.
- Median house price: $442,280
- Median price for units: $288,681
With new Land developments scarce due to large parcels of usable land not being made available, we believe values of existing properties will continue to perform well.
Rangeville borders East Toowoomba in the north, Middle Ridge in the south, South Toowoomba and Centenary Heights in the west, while the eastern edge of Rangeville overlooks the Lockyer Valley.
Harristown QLD 4350
Harristown has followed closely behind Rangeville and Newtown so far this year with 134 homes sold.
- Median house price: $316,722
- Median price for units: $199,732
The average house in Harristown is rented for $328 per week at a return of 5.24%. The median weekly rental price on units is $255 and the rental return is 5.96%.
Developments such as Glenvale Views on the western fringe of Harristown have assisted the suburbs growth with first-home-buyers and Investors securing all 75 Lots in the Estate.
Another mammoth development changing the face of Harristown is ‘Seachange’. The $70M, 162 home over 50’s Lifestyle Resort is located on Hampton St, just minutes from Clifford Gardens.
With development sites such as 78 Glenvale Rd, Harristown currently on the market, we expect to see Harristown continue to grow.
Centenary Heights QLD 4350
Centenary Heights is a family friendly suburb, located just 4km from Toowoomba’s CBD. Previously part of Middle Ridge, in 1960 the area took it’s name in honour of the separation of Queensland from New South Wales in 1859.
Over the first three quarters of 2018, 113 homes sold in the leafy central suburb.
- The median house price: $363,371
- Median price for units: $279,115
Similarly to it’s neighbouring top performing suburb of Rangeville, future Land Developments in Centenary Heights will be rare due to the lack of available land. The most recent subdivisions in Centenary Heights was nearly 20 years ago.
Centenary Heights’ property market is expected to continue to grow and perform well.