Market to bloom in spring

Agents primed for busy three months as selling season starts

TOOWOOMBA real estate agents have geared up for a bumper spring selling season, with a number of previously dormant suburbs expected to see a flurry of sales.

Ray White Toowoomba coprincipal Andrew Carter said west-side suburbs, like Newtown, Glenvale and Wilsonton, were experiencing a spike in buyer interest.

“A lot of that demand comes from the attractive price point of west-side homes for entrylevel buyers and we are certainly seeing a strong rebound of investors looking to that high-yield rental property market,” he said.

“With East Toowoomba and Mt Lofty you always have strong demand in those areas, including Rangeville and Middle Ridge.

“That will only continue to strengthen but the big story is the rebound on the western side of the city.”

Mr Carter said that momentum had been building since the Federal Election, driven by greater lending certainty.

“Before the election, there was a bit of uncertainly about legislation which dealt with owning investment properties, such as negative gearing and lending restrictions,” he said.

“But those changes did not eventuate, rekindling interest which transferred to inspections and sales.”

The Ray White agent reported solid numbers on the weekend house inspections circuit, with upward of 200 investors potential owners doing the rounds each Saturday.

“We expect in spring we might see as many as 300 buyers looking at our properties each weekend,” Mr Carter said.

Toowoomba’s northern flank is another growth area, though it is a slow burn.

Large tracts of land have been released for development from Gowrie Junction to Highfields.

The Toowoomba Bypass opens next week, and Mr Carter said he expected it would add to the city’s appeal.

“It will be national news, and it will it rekindle interest from outside buyers,” he said.