Herron Todd White June Update
As published by Herron Todd White.
Looking back twelve months, the prediction of a steady Toowoomba market has proven to be accurate. The total number of properties listed for sale year on year is very similar. Sales volumes have softened slightly while values remain steady. With this month’s focus on the $500,000 price point, we have provided recent examples of property sales in this segment which is mostly dominated by the owner-occupier sector. Investors are far less active above the $400,000 price point in Toowoomba. Below is a sale of a typical, owner-occupier home in the established area of Middle Ridge. This property sold for $493,000 and comprises a 4-bedroom, 2-bathroom dwelling with double garage and pool.
An alternative option for buyers seeking larger lots is represented by the sale of a 4-bedroom, 2-bathroom dwelling in the satellite suburb of Westbrook for $492,500. This property features a 1,000 square metre lot and a detached shed.
For those seeking larger homes with renovation potential, below is an example of a 1970s, 4-bedroom, 2-bathroom split-level home with original features located in the well-regarded suburb of Rangeville.
Acreage lots with large dwellings and shedding can be found in Highfields, approximately 13 kilometres to the north of Toowoomba. A recent example is shown below of a 4-bedroom, 2-bathroom, semi-modern brick dwelling situated on a 2,600 square metre lot. It features landscaped gardens and shed.
The $500,000 price point in Toowoomba and surrounding areas is well above the median price which hovers around the $360,000 to $375,000 mark. Despite this, there are many areas across the region where homes can be secured at this price.