Toowoomba Property Factsheet 1st Half of 2019
Toowoomba recorded a median house price of $397,000 and $299,000 for units in Q4 2018. This is an annual (Q4 2017-Q4 2018) median price softening of -1.4% for houses and -6.6% for units. Compared to the Toowoomba 2nd half 2018 Research Factsheet, which reported an annual (Q2 2017 – Q2 2018) median price change of -6.2% (house) and 3.4% (units), houses have strengthened in value and units have become more affordable. This represents a resilient market and an ideal time for buyers to step into the market.
Toowoomba recorded a median house price of $397,000 and $299,000 for units in Q4 2018. This is an annual (Q4 2017-Q4 2018) median price softening of -1.4% for houses and -6.6% for units. Compared to the Toowoomba 2nd half 2018 Research Factsheet, which reported an annual (Q2 2017 – Q2 2018) median price change of -6.2% (house) and 3.4% (units), houses have strengthened in value and units have become more affordable. This represents a resilient market and an ideal time for buyers to step into the market.
Annual (Q4 2017-Q4 2018) median house prices softened in the Toowoomba Regional Local Government Area (LGA), by -3.6% to $372,000. Median unit price also softened, by -6.3% to $300,000. When compared to the LGA, Toowoomba unit property prices are on par, however the Toowoomba house market proves to a premium one, based on median price and capital growth.
Toowoomba median rental prices strengthened over the past 12 months to Q4 2018, by 2.9% to $355 per week for houses and by 1.8% to $290 for units. Investors are benefitting from quick rental uptake in this high-demand market, as vacancy rates (2.4%) in Toowoomba have remained stable over the past 12 months to December 2018. This is well below that of Brisbane Metro (3.2%), making Toowoomba an ideal affordable alternative for investment.
