Is the $1-million mark no longer the barrier it once was?

A LUXURY home in Rangeville listed for offers above $975,000 has sold just days after going to market.

6 Perth Street, Rangeville. Picture: Contributed

A LUXURY home in Rangeville listed for offers above $975,000 has sold just days after going to market. 

Century 21 Marsden Realty principal Sam Marsden said he'd received two offers for 6 Perth Street within 10 days of going to market with the property, and that both were in a range that was 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 Street." 

Mr Marsden said a number of houses sold by his agency in the vicinity of the Perth Street home in recent months had gone to young families. 

Exquisite Rangeville home

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The Perth Street home was snapped up by a retiring couple moving off the land. 

Mr Marsden said demand for housing in Toowoomba's high-end property market was the highest it has 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. 

He added that he believed the Toowoomba property market was seeing a shift, where spending $1 million on a home wasn't the barrier it used to be for buyers.

Originally published as Is the $1-million mark no longer the barrier it once was?