Newtown … a Hotspot!
Leading interstate property analysts have identified Newtown as one of the top 5 suburbs in Queensland for investors to target.
RE/MAX Success Sales Consultant, Tiffany Krause said this comes as no surprise as sales evidence supports this.
“We’ve sold around 40 properties in the suburb of Newtown over the last 6 months alone. A good proportion of these have been to interstate investors who have searched the internet,” emphasised Miss Krause.
She highlighted that she had experienced occasions where local home buyers had been outgunned by interstate investors who submitted a higher offer to secure a property, most times sight unseen. “They rely on building & pest inspections by licensed inspectors and satisfactory valuation to support their bank loans.”
Miss Krause said Newtown properties are affordable and perceived by interstate investors as great value. Low vacancy rates are an added attraction for these investors.
“Local renovators are also very active in Newtown with the abundance of character homes offering more ‘bang for their buck’ than eastside locations. Proximity to schools, shops, parks and easy access to the city centre are added attractions for Newtown,” Miss Krause continued.
The new Wellcamp Airport has been the biggest single influence driving investor demand. Numerous other major infrastructure projects have either commenced or are due to start early next year emphasising the confidence displayed in Toowoomba by the private sector.
“It is well recognised that new infrastructure creates jobs and demand for housing. We anticipate further capital growth for house prices in Newtown. Whatever you buy today is cheap tomorrow. I have recently purchased in Newtown myself,” Miss Krause concluded.