Toowomba

<html><body><div class="page" title="Page 43">
<div class="section">
<div class="layoutArea">
<div class="column">
The Toowoomba and surrounding residential property market remains steady at present, according to the valuation firm, Herron Todd White, with low sales volumes widespread across all sectors. 
Being one of the more affordable regional locations in Australia, Toowoomba offers an opportunity for first home buyers in the sub $450,000 segment.
"Toowoomba and surrounding suburbs offer an opportunity for many different types of home owners, with various industry and job opportunities, a central hub location, a diverse property market and varying segments.
HTW noted while lending has tightened and property ownership has become more difficult, there are still good opportunities in the Toowoomba region.
"Strategies such as joint ownership can also bring affordability to young people getting their foot in the ownership door and out of the rental market," their recent report noted.
<div class="page" title="Page 43">
<div class="section">
<div class="layoutArea">
<div class="column">
The typical product attractive to first home buyers tends to be in the sub $450,000 segment, being new 2- and 3-bedroom units as well as 3- and 4-bedroom houses located in active investor areas in the western suburbs of Toowoomba and satellite suburbs such as Cambooya and Wyreema. 
"The other trending option is to buy older housing in more established areas."
A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-newtown-125333342" target="_blank">2a McDowall Street</a> (above) in Toowoomba’s Newtown suburb sold for $412,500 recently. The selling agent was Darren Bliesner of Professionals.
A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-harristown-124937858" target="_blank">24 Friend Street</a> in Harristown (Toowoomba) changed hands for $420,000. The selling agent was Craig Horncy of Century 21.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/24/Toowoomba2.jpg" alt="">
Noting families generally seek slightly different properties to first home buyers, with a focus on more space (i.e. 4-bedroom houses), bigger back yards and close proximity to schools, HTW noted this type of housing was found throughout Toowoomba, Highfields and Westbrook in the sub $600,000 segment.
Empty nesters seem to stay put in the family home or down-size to unit or villa living and seem to fill the higher priced property segment.
</div>
<div class="column">
"Attached housing and detached housing on small lots are tending to grow in popularity throughout the Toowoomba area, particularly in the older areas close to the CBD. 
"The dream of having a big back yard appears to be changing. 
"Many infill blocks have been sub-divided into smaller lots or have had unit complexes built on them. 
"This type of product may be attractive to empty nesters looking to downsize for maintenance and convenience reasons."
It noted attached housing is also becoming more appealing to first home buyers for affordability. 
"This product is often more suited to home buyers than investors due to costs for the location and resulting returns on capital."
HTW advised the sector most active is upgraders looking toget into a bigger house or a more desirable location. 
Properties in areas such as Rangeville, Middle Ridge, East Toowoomba and Mount Lofty seem to be what is sought after by this sector. 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Toowomba's affordability sees sub-$450,000 FHB buying

<html><body>
Toowoomba continues to offer affordable options for first time buyers with a large supply of product on the market, steady investor interest and land developments benefiting affordability, according to HTW’s Month in Review: March 2017. 
The valuation firm says land development in the western suburbs, including Glenvale and satellite suburbs such as Wyreema and Cambooya, have offered affordable land or house and land packages for first time buyers.
“Some new developments in the western suburbs have introduced small lots, which may be attractive to first time buyers because of their lower price points than traditional sized lots,” the report says.
“This has been enhanced by the current low interest rates, developer land rebate offerings and $20,000 first home owner grant available until 30 June 2017.”
An oversupply in some areas has resulted in price reductions across older established properties in the sub $400,000 market, significantly reduced asking rents and increased vacancy rates up to around 4%.
“First time buyers should consider all avenues such as an existing property in an older established area,” HTW says.
“An older, possibly smaller property in need of some [care] could present an opportunity for a first time buyer to get a foot in the door of the property market at a much lower price than a brand new larger house in a newly developed area.
“Many of these properties are located in suburbs close to the CBD.
“The first time buyer could potentially build capital with future improvements.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-north+toowoomba-124983914" target="_blank">149 Jellicoe Street</a>, North Toowoomba (above) has been listed for $239,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-north+toowoomba-124373914" target="_blank">10 Raff Street</a>, North Toowoomba (below) has been listed for over $319,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/10%20Raff%20Street.jpg" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

Oversupply increasing affordability for Toowoomba first home buyers: HTW

<html><body>
A fully leased retail centre in Queensland’s largest inland city, Toowoomba, has sold for more than $14 million on a robust yield of 7 percent. 
Wyalla Plaza at 236A-238A Taylor Street, Newtown returns a net rental income of more than $1 million per annum and offers opportunity for further growth, according to its description. 
Tenants include Puma, Domino’s Pizza, Downs Rural Medical and Malouf Pharmacy among others. 
The property was sold through agents Stephen Kidd and Peter Marks of Ray White Commercial to a Melbourne-based investor. 
Kidd said the marketing campaign for Wyalla Plaza attracted strong local, interstate and international interest.
“Wyalla Plaza is 100 per cent leased and includes a service station, medical centre and a total of 25 tenants,” he said.
The property has a land area of 14,028 sqm and a gross floor area of 3,995 sqm. 
Marks said there is currently a strong appetite for investment in Toowoomba with the city of nearly 163,000 people enjoying a bright economic future underwritten by primary industry, natural resources, education and tourism sectors.
“Toowoomba is currently experiencing an influx of major infrastructure developments totalling more than $10 billion,” he said.
</body></html>

Toowoomba shopping centre sells for more than $14 million on a strong yield

<html><body>
The expansion and redevelopment of Grand Central Shopping Centre in Toowoomba continues with stage one now complete and the balance of the project expected to be completed in early 2017, according to Herron Todd White’s (HTW) latest report.
The property advisory firm says that centre management has been aggressive in leasing the new specialty shops, concentrating mostly on national quality retailers.
The majority of recent leasing activity within the Toowoomba CBD has been to cafés, bars and restaurants.
The majority of these operators are new to Toowoomba, resulting in a strong influx of new options for local diners.
Retail rents in general have remained relatively static although market leading rents are often achieved for new developments.
The historically low interest rates have resulted in strong demand from investors for retail properties, however the lack of supply of quality, fully leased properties has limited the number of investment sales and has resulted in a firming of net yields over the past two years.
Recent retail investment sales in Toowoomba include:
<ul>
<li>3/879 Ruthven Street, Kearneys Spring – Modern retail building with two tenancies leased to an Indian restaurant and a convenience store. Weighted average lease expiry (WALE) of 3.15 years. Sale reflected a passing net yield of 7.28% and analysed net yield of 8.25%. Sale price of $580,000. 
</li>
<li>283 Ruthven Street, Harlaxton - Semi-modern retail centre leased to Red Rooster and a Foodworks supermarket. WALE of 2.83 years. Sale reflected a net yield of 7.8%. Sale price of $1.575 million. 
</li>
<li>330 Stenner Street, Kearneys Spring – Restaurant leased to local Pizza Hut franchisee. WALE of 8.56 years. Sale reflected a net yield of 5.82%. Sale price of $1.85 million.</li>
</ul>
The retail market in Gladstone has continued at a similar pace to most of 2015 and the beginning of 2016, with increasing vacancies in secondary locations, and reductions in rental levels.
Well anchored centres with good location, access and exposure appear to be maintaining occupancies, however centres in secondary locations or with no significant anchor tenant appear to be bearing the brunt of current market conditions.
"Sales activity has been low, with no known notable retail sales during 2016," HTW noted.
The market is currently dominated by owner-occupiers who are taking advantage of the weaker market conditions and low interest rates.
The development site on the corner of Boles and Breslin Streets generated a fair amount of talk and media when it was purchased by Aldi Foods Pty Ltd in January.
Construction is now well underway and the completion date is speculated to be toward the end of 2016.
The development of a multi-million dollar Coles anchored shopping centre, opposite the existing Woolworths centre on Dixon Drive, continues to remain at the forefront of discussion as Coles continues to challenge the decisions made by Gladstone Regional Council.
"The latest reported update is that the fourth development approval to be submitted (subdividing the site into four lots) has been approved, yet with many conditions that Coles is reportedly set to challenge," it noted.
</body></html>

New options for Toowoomba local diners while retail market in Gladstone remains steady: HTW

<html><body>
Queensland’s Toowoomba sits on the list of most-searched suburbs list for 2015 by rent.com.au.
The median rent for all rental properties advertised in Toowoomba earlier this year was $267 per week, a fall of 5.31 percent from the last previous quarter. 
Toowoomba’s median price was also well below the median of $290 per week for surrounding suburbs which include East Toowoomba, Harristown, Newtown, North Toowoomba and South Toowoomba. 
The average days on market for all rental properties advertised in Toowoomba within the last 90 days improved by 15 days to 27 from the last quarter. Toowoomba also did better than the 40 days on market for surrounding suburbs.
Out of a total of 10 rental properties advertised in Toowoomba within the 30 days, six were houses and four were apartments. 
The price range of advertised properties was from $180 for a two-bedroom dwelling to $380 for four bedrooms.
As an illustration, Property Observer came across a couple of dwellings up for rent around the median price on <a href="https://rent.com.au/" target="_blank">rent.com.au</a>:
<img src="/images/2016/04/29/rent_1apartment.jpg" alt="" width="475" height="356"> A two-bedroom apartment at <a href="https://www.rent.com.au/property-apartment-toowoomba-4350-1711428" target="_blank">1/115 South Street, </a><a href="https://www.rent.com.au/property-apartment-toowoomba-4350-1711428" target="_blank">Toowoomba</a>, is up for rent at $270 per week. 
<img src="/images/2016/04/29/700_woomba2.jpg" alt="" width="532" height="326">
A three-bedroom house at <a href="https://www.rent.com.au/property-house-toowoomba-4350-1759878" target="_blank">8 Hamwood Street</a>, is up for rent at $300 per week.
</body></html>

Toowomba

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Toowomba

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News