Too late for Toowoomba?

[RetireRich101]

I just picked up API magazine May 2014 edition from the Home Buyer show in Sydney.

2 blokes in their early 20, making over 700K from 3 developments of duplex and triplex over a 4 year period in Toowoomba...breath taking.

 

[AusPropertyPow]

Hi
Long time lurker! I love this forum and consider all the information I've gained so far to be invaluable.

We are finally in a position to buy a 2nd IP and have our sights set on QLD. Funds are limited to the $200,000 to $300,000 range. We are very interested in Toowoomba and had read a few market commentaries that mentioned there was around 6 months left to get into this market before it was too late. That 6 month time period would be up about now. So what do those on the ground and current Toowoomba investors think - are we too late?

Our strategy is cash flow positive properties for buy and hold for long term capital gain. We would love some early capital gain so we can buy again in the shorter term.

Hi Magnet,

I believe there is still a little growth left in the Toowoomba market but you will need to get quite soon. Valuations are still quite strong there.

Good luck.

Cheers.

 

[seank]

Hi
Long time lurker! I love this forum and consider all the information I've gained so far to be invaluable.

We are finally in a position to buy a 2nd IP and have our sights set on QLD. Funds are limited to the $200,000 to $300,000 range. We are very interested in Toowoomba and had read a few market commentaries that mentioned there was around 6 months left to get into this market before it was too late. That 6 month time period would be up about now. So what do those on the ground and current Toowoomba investors think - are we too late?

Our strategy is cash flow positive properties for buy and hold for long term capital gain. We would love some early capital gain so we can buy again in the shorter term.

Why would you,when for the same price you can buy in Brisbane?

 

[mikezen]

Why would you,when for the same price you can buy in Brisbane?

I wouldn't write off Toowoomba that quick ...My Toowoomba investment has made more cg in the last 6 months than one of my Brissie ones has in 3 years, also not all parts of Brissie are moving yet

I would personally be choosing Toowoomba over (Logan 200-300 for houses) at this point, but that's just my opinion from the growth I personally have been experiencing , I have been attending auctions around Logan and things still seem slow, but I welcome a different view

I don't know about inner Brissie units I don't buy them

 

[mikebeech]

Where in Toowoomba?

I'm thinking of purchasing a 3 bedroom villa in West street
in Toowoomba, near transport, hospital and the
garden park. Its price is $309k and as a bonus
its an nras property. I haven't been to Toowoomba,
Is it better in the city itself or outside Toowoomba
like Kearney Spring and Highlands. Thanks

 

[A Jeremy]

RetireRich101,

I'll sheepishly admit that I believe the article you're referring to was about me and my friend. If you have any questions about Toowoomba or developing in Toowoomba I'm glad to help out as much as I can.

 

[chindonly]

Nice one Jeremy - great to see you here!

Likewise, they were some very impressive valuation gains!

I like how you guys handles some of the problems that arose - in very short time frames.

What's next??

 

[A Jeremy]

We are currently seeking approval to build a triplex which has become a very educational experience now that the Sate Government has decided to chime in but even though it is delaying us I see it as a positive because I'm learning about Council requirements I wasn't aware of before as well as gaining an understanding of how the Department of State Development, Infrastructure and Planning(DSDIP) works.

It's only going to prepare us better for developing in the future.

 

[RetireRich101]

RetireRich101,

I'll sheepishly admit that I believe the article you're referring to was about me and my friend. If you have any questions about Toowoomba or developing in Toowoomba I'm glad to help out as much as I can.

It's nice to put a face next to a SS nickname

Inspiring what you guys achieved, while most guys would be chasing girls and booze at your age...
Congrats on the work

 

[Cash Flows]

Hi A Jeremy

Any updates on Toowoomba? How is the demand/supply at the moment?

Has there been an announcement RE airport and which carriers have signed up?

Cheers

Cash Flows

 

[A Jeremy]

Cash Flows,

I haven't kept my ear to the ground in regards to the airport. My strategy doesn't rely on speculation or growth. My opinion about the effects that the construction of the second range crossing will have on the market in Toowoomba is purely for making small talk.

From memory, this thread talks about the supply and demand and is only a month old so it is still relevant although it is people on a forum and not cold, hard facts.

 

[Coota9]

Cash flows

Vacancy for 4350 is currently sitting about 1.9% which is the same level as jan this year rents have gone up approx 6% over the last 12 months..

Coota

 

[spinner]

Qantas has signed up to service the airport in Toowoomba

http://www.qantas.com.au/travel/airlines/domestic-flight-specials/from-wellcamp/economy/global/en

I'm not sure how this will impact on the property market. Probably not significantly. People need more than an airport to make them move into a town and thereby exert pressure on the property values.

The economy in Toowoomba is driven by several factors, these being the new Toowoomba Range Crossing, the mining in the Surat Basin, and of course farming activity and collateral businesses servicing these sectors. And it is these sectors that will result in population growth of Toowoomba.

The airport will of course be a great convenience.

Of course I am totally biased since I'm from way out west and Toowoomba is my big smoke and I enjoy what it has to offer in terms of entertainment and educational facilities