$1m not the barrier it once was
Demand for Toowoomba’s high-end property market is on the up
A TOOWOOMBA real estate agent believes the city is witnessing a shift in the property market, where spending $1 million on a home isn’t the barrier it used to be for buyers.
Century 21 Marsden Realty principal Sam Marsden said demand for housing in Toowoomba’s high-end property market was the highest it had been in nearly a decade.
“It’s higher than we’ve seen for probably at least seven or eight years; demand is really strong,” he said.
Mr Marsden’s comments come off the back of the sale of a luxury home in Rangeville for $975,000.
Mr Marsden said he’d received two offers for 6 Perth St within 10 days of going to market with the property, and both were in a range acceptable to the owners.
The sale has since gone unconditional, though Mr Marsden was unable to reveal the final price prior to settlement.
“We’ve had strong interest in Rangeville and the Picnic Point area, in particular in the larger blocks,” Mr Marsden said.
“We’ve seen a good increase in pricing up around there because of that demand, and a few of those properties have sold with multiple offers, including 6 Perth St.”
Mr Marsden said a number of houses sold by his agency near the Perth St home in recent months had gone to young families.
The Perth St home was snapped up by a retiring couple moving off the land.