Rural sector delivers bullish market
AS MEDIA outlets trumpet impending doom in major metropolitan and global real estate markets, Elders Toowoomba sales agent Trevor Leishman says it couldn’t be more different in the local rural sector. In fact, it’s very buoyant.
And, before you start thinking that sounds like over-hyped rhetoric to prop up potential sales - the encouraging results are there for all to see.
Following a string of successful auctions and private sales over the past six months, Mr Leishman says the current surge is very promising for the region.
"There’s been big interest, with a number of properties selling quickly," he said.
"We had two auctions recently and both sold on the day, we put another three properties under contract in January and a very large holding prior to Christmas .
"These haven’t been small sales," he said. "A number of multi-million-dollar properties have been sold recently and there are good enquiries for other properties on our books."
And interest isn’t solely being confined to the ‘top end’.
Mr Leishman said there is also plenty of interest in quality acreage with $600,000, $800,000 to $1 million properties also being snapped up.
"I’ve been selling for 14 years and I haven’t seen such movement in the market. Not for eight years at least. So, this is looking very promising.
"People are looking to establish themselves here and, given the Toowoomba market is tightly held, when a property becomes available, buyers are quick to secure it.
"They want to be close to the city, but still have acreage and our region can deliver that."
Mr Leishman said it had been possible to see the positive trends emerging.
"This has been coming for five or six years and the market is gaining momentum," he said.
"I liken it to an orchard – now we’re watching the fruit ripen."
With the new Range crossing project well under way, the Wellcamp Airport continuing to open the city to visitors and investment and inland rail plans coming to fruition, Mr Leishman said the region was forging ahead.
"Toowoomba is growing as a city and the acreage sector is coming along with it.
"The horse industry is very buoyant again and they’re looking to make Toowoomba a base," he said.
"Short to medium term, we’re very strong. Buyers are looking for quality properties and will pay accordingly.”