Property market positive

Real estate guru in city to share views and advice

A WELL-known property analyst says Toowoomba’s market is in a different position compared to the rest of southeast Queensland.

Michael Matusik was in Toowoomba yesterday at a property market outlook luncheon, presented by Colliers International and the Chamber of Commerce.

Looking at the region’s property market as a whole, Mr Matusik said Toowoomba was in a good position, having survived a downturn well.

“What happened with Toowoomba is that it had a very hard downturn in 2011, largely flood-related, but it was already turning downwards anyway,” he said.

“Because it was hit so hard there was a year or two where nothing happened. So the pent-up demand for housing, investment and so

❝ A lot of areas in southeast Queensland haven’t peaked yet. Toowoomba has peaked.

— Michael Matusik

forth built up, so it had a pretty strong, if not very strong improvement in 2012, 2013 up to 2014.

“It attracted a lot of investment, a lot of new development particularly in sub-divisions and the like and it peaked.

“A lot of areas in southeast Queensland haven’t peaked yet.

Toowoomba has peaked.

Mr Matusik said because the market did not over-supply itself, Toowoomba got through its downturn pretty quickly and was now sitting at what he called “stagnation”.

“So (the market is) about to upturn again. So things are likely to improve, that is the broad picture.”

PHOTOS: BEV LACEY PROPERTY GURU: Michael Matusik, a property analyst, gives his view on the Toowoomba real estate market at a property market outlook luncheon.

A the property luncheon are (from left) Sharon Baldwin, Troy Anderson, Taylor Riley and Conor Hilton.

Getting together at the luncheon are (from left) Phillipa Gilmore, Mark Adamson, Nick Stebbings and Luke Hanson.