Analyst predicts upturn on the cards
LAST week, Colliers International Toowoomba, in collaboration with the Toowoomba Chamber of Commerce, held the inaugural Colliers Property Market Outlook at Blankspace in the Mills Precinct.
The event attracted more than two hundred people in the Toowoomba region and featured trusted property analyst Michael Matusik.
Analysing Toowoomba’s property market as a whole, Mr Matusik says Toowoomba is in a different position compared to the rest of South East Queensland, 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," Mr Mtsuik said.
"Having a year or two where nothing happened, pent up demand for housing, investment and so forth built up."
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".
"The market is about to upturn again, things are likely to improve, that is the broad picture," he added.
Additionally, a commercial panel was convened on stage, facilitated by Dan
Dwan managing director of Colliers International Toowoomba.
Mr Dwan says it was reassuring to listen to market experts in the current commercial space highlight the positivity forecast in the region.
"This forecast is particularly off the back
of the current infrastructure spend including the Toowoomba Second Range Crossing and the Melbourne to Brisbane Inland Rail. Following Michael’s analysis, it was evident that developments need to be approved more quickly to keep up with the current demand Toowoomba is
experiencing," he added.
For further information or to obtain a copy of the report produced by Michael Matusik, please contact Colliers International Toowoomba, marketing coordinator Tyhla Larkin by calling 4659 7875.