Toowoomba property market holding strong
TOOWOOMBA’s property market is holding strong, according to Real Estate Institute of Queensland Toowoomba/Darling Downs zone chair Katie Knight.
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TOOWOOMBA's property market is holding strong, according to Real Estate Institute of Queensland Toowoomba/Darling Downs zone chair Katie Knight.
Ms Knight said COVID-19 had made sellers more cautious about listing, but that more and more properties were now coming to market every week.
"I've spoken with a number of different agents in town and there is an increase in genuine buyer interest, and more confidence from sellers that the market is holding and they're prepared to list their properties for sale," she said.
Ms Knight said the reduction in the number of listings had led to demand outstripping supply.
"And in any market place, that results in great sale prices," she said.
Across the country, Ms Knight said property market growth had continued to rise month to month during the pandemic.
She also said consumer sentiment had risen over the last consecutive weeks.
Speaking about her experience as owner of REMAX Success Toowoomba, Ms Knight said last weekend "our average number of attendees per open home was the highest number we've had since the first weekend in January", traditionally one of the busiest weekends of the year.
She said there may still be a small dip in the market, but that it would be around the five per cent mark.
"Toowoomba's very steady. I've been around since 1998 and we've had plenty of cycles during that time," she said.
"But Toowoomba, we're so fortunate in our little neck of the woods.
"We hold up well in terms of what's happening nationally and globally.
"The region is solid and it's strong."
Ms Knight said while her business had done 17 contracts for the month of April, they'd now done 34 contracts in the last 30 days.
"Financiers are still lending. As long as you've got capacity, banks are lending."
Originally published as Toowoomba property market holding strong
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