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Newtown is ‘Boomtown’ says REIQ

By September 13, 2018 No Comments

Photo: Bev Lacey

POTENTIAL BUYERS: Aimee and Kevin Collins have recently moved to Toowoomba and are interested inbuyting a home in the boom suburb of Newtown like this house in Bothwell St.

NEWLY released Real Estate Institute of Queensland market monitor figures showed Toowoomba had performed steadily over the past 12 months, with the suburb of Newtown considered a standout.

During the June quarter Newtown’s median house price had risen by 4% to $322,500, according to the REIQ.

Newtown recorded the highest number of house sales during the quarter with 29, although Rangeville had the highest number of sales for the year at 161.

The trend didn’t surprise Success Realty principal Angela Harms who said Newtown was generally a “boom suburb”.

“It’s one of Toowoomba’s biggest suburbs and has seven schools and is close to the CBD,” she said.

“We’ve had some record prices in Newtown lately including a four bedroom, two bathroom, two car garage house that went for $675,000.

“Another four bedroom, two bathroom Queenslander in Taylor St went for $525,000.”

Ms Harms held an open day at Bothwell St in Newtown at the weekend which attracted a steady steam of potential buyers including Aimee and Kevin Collins. Mr and Mrs Collins recently moved from Warwick to Toowoomba where Mr Collins has started a new job.

“We’re looking for something that’s not too far from where I now work in Taylor St,” Mr Collins said.

“And, this is probably around our price range.”

The three bedroom, two bathroom home is listed at

$349,000.

REIQ CEO Antonia Mercorella said the regional economic fundamentals for Toowoomba were solid with unemployment below the state average and new business investment attracted to the region.

“The outlook for the sales market remains steady for the remainder of 2018,” she said.

“However, the unit market may still face challenges due to the increase in unit developments.”

Source: The Chronicle, 10 Sep 2018, PETER HARDWICK
 
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