Toowoomba On Track for Growth
Savvy property investors are always on the lookout for future hot spots and know that the best time to invest in an area is soon after major projects have been approved or have commenced. August 2016 showed us a glimpse of the incredible activity of the Second Range Crossing will generate in regards to high demands of rental properties. The full effects haven’t been felt yet, and experts are tipping that when major construction projects get underway in Toowoomba, the peak property phase is expected from mid-2017.
The key indicators of a hot spot are new infrastructure, redevelopment of retail centres and more lifestyle amenities. You don’t have to look far to see Toowoomba’s emerging skyline with the $1.6 billion Second Range Crossing, the development of the 550 hectare Wellcamp Airport Business Park; the $500 million redevelopment of Grand Central shopping centre and the transformation of the railway precinct into an urban village and parklands…just to name a few.
Sales activity picked up in the last week of December 2016, and we are confident that volumes will continue to rise from January to June and stay steady for at least 18 months. Prices will increase steadily however, days on market will come back down as we see more buyers re-enter the market.
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