Would you invest in a Gable on 1000m2 allotment in Newtown - Toowoomba
- Thread starter Step_1
- Start date
I live about 3 km from Newtown Toowoomba.
Newtown has good longer term prospects and will be slowly gentrified over the next 10 years or so.
There are still a lot of older residents living in their "original" homes.
How is it zoned? How much frontage? Which st?
Toowoomba market in my opinion is quite stable long term but likelyto stagnate or fall a bit more in 2007. Two years ago there were nil sub 200k places advertised in town. now there are quite a few. It is still falling slowly I would say.
This not advice, just my ramblings.
Newtown has good longer term prospects and will be slowly gentrified over the next 10 years or so.
There are still a lot of older residents living in their "original" homes.
How is it zoned? How much frontage? Which st?
Toowoomba market in my opinion is quite stable long term but likelyto stagnate or fall a bit more in 2007. Two years ago there were nil sub 200k places advertised in town. now there are quite a few. It is still falling slowly I would say.
This not advice, just my ramblings.
Hi GIDDO,
Thanks for the info, it is in 67 West Street Set on a large 1,022m2 allotment.
you are absolutly right about the property value in past. i saw sales of last year and all are in the range of 215K to 235K.
Do you hve any Idea why the price drop?
Are people moving out of that place or is it social reasons?
The property is quiete old.
Sam.
Thanks for the info, it is in 67 West Street Set on a large 1,022m2 allotment.
you are absolutly right about the property value in past. i saw sales of last year and all are in the range of 215K to 235K.
Do you hve any Idea why the price drop?
Are people moving out of that place or is it social reasons?
The property is quiete old.
Sam.
Hi Pete and Step1,
I am pretty sure the vacancy rate is under 3%. probably 2%.
Certainly landlords are raising rents so it can't be too bad.
67 West St would be quite busy with traffic. I may drive past tommorrow and havea look it is only a couple of kms away. It would be in a unit area there .
Nominally, you could fit 4 x 2 br units there SCA. Less than $50k per unit site is about par here.
I think we wre just going through part of the cycle really.
Being regional, we are behind the cap city cycles.
We only peaked in 2004.A slow decline in 05 and quicker decline in 06.
Up till o6 the volume of sales was still good.
Now the volume is dropping away too.
I predict cheaper next year.
PS We are also in a drought with level 5 water restrictions now. Home buyers will cheer up when it rains.
Yields are going upwards here. 5.5%-6% should be easy enough to achieve, and that won't be an awful property in the worst suburb either.
It won't be too long and investors will be interested again. Probably after it seems that the int rates have topped out.
Thanks Giddo. I lived there till I was 4 and had to keep going keep to visit relatives on week ends for years.
So I admit I do not like Toowoomba but it does seem to have a lot of admirers.
Are they still developing housing estates up there, they were talking about stopping it because of the water.
Thanks for the information.
Peter
So I admit I do not like Toowoomba but it does seem to have a lot of admirers.
Are they still developing housing estates up there, they were talking about stopping it because of the water.
Thanks for the information.
Peter
Hi Pete from Bris.
A BALMY 30 degrees up here today and about 33 degrees in Bris I believe and humid too.
That is the benefit of Toowoomba I believe - the mild climate and less humidity.
We are growing quite well so far - a growth rate of about 1% pa which is better than many regional places.
The water is a problem , we are on level 5; but I am taking the view that the worm will turn on that issue sometime soon.
In the meantime there are more bargains around because of it.
Everald Comptons rail will go through here and there is a massive transport terminal and Industrial Estate being planned at Charlton on the western outskirts. That will attract heaps of industry here I think. Companys are buying development land there right now.
Once the second range crossing goes in, probably in about 15 years I estimate; it really be convenient and quick road link between here and Bris.
Add that to the inland rail link aforementioned going up to Gladstone port we have an attractive industry centre.
It is 2 hours drive to Brisbane now and 4 lanes most of the way - but if ever an electric train goes in it will be commutable indeed.
Probably a bit long term for many, but the tortoise did beat the hare eventually.
I manage to do allright because I study the local market, and believe I can recognise value when I find it. i also place a fair bit of value on knowing the right tradesmaen up here. It really helps.
I agree that shorter term, the right property in Brisbane is probably better buy right now. It is just I don't know the town well. I do know this one.
Maybe I will get braver as I progress.
A BALMY 30 degrees up here today and about 33 degrees in Bris I believe and humid too.
That is the benefit of Toowoomba I believe - the mild climate and less humidity.
We are growing quite well so far - a growth rate of about 1% pa which is better than many regional places.
The water is a problem , we are on level 5; but I am taking the view that the worm will turn on that issue sometime soon.
In the meantime there are more bargains around because of it.
Everald Comptons rail will go through here and there is a massive transport terminal and Industrial Estate being planned at Charlton on the western outskirts. That will attract heaps of industry here I think. Companys are buying development land there right now.
Once the second range crossing goes in, probably in about 15 years I estimate; it really be convenient and quick road link between here and Bris.
Add that to the inland rail link aforementioned going up to Gladstone port we have an attractive industry centre.
It is 2 hours drive to Brisbane now and 4 lanes most of the way - but if ever an electric train goes in it will be commutable indeed.
Probably a bit long term for many, but the tortoise did beat the hare eventually.
I manage to do allright because I study the local market, and believe I can recognise value when I find it. i also place a fair bit of value on knowing the right tradesmaen up here. It really helps.
I agree that shorter term, the right property in Brisbane is probably better buy right now. It is just I don't know the town well. I do know this one.
Maybe I will get braver as I progress.
Yes that is true but in winter here it is a low of 5 degrees not a high of 5 degrees!Hi Pete from Bris.
A BALMY 30 degrees up here today and about 33 degrees in Bris I believe and humid too.
Yes that is just a minor issues I think, it will get better once it rains.
I am watching that rail line with interest. It will go through a few towns that should benefit.
On a side line what do you think of Warwick? It is close to Toowoomba, has the Woolworth distribution centre and the rail line will go close to it as well,I think?
Thank you for your thoughts on Toowoomba. By the way I hate living in Brisbane as well!
Cheers,
Peter
Hi Pete and All,
I am not so sure about Warwick. The rail line will go from Goondi to Tmba I believe, meaning Warwick misses out.
I believe it is a somewhat insular community there. Large percentage of original settlers were Irish and English and not much new blood since.
Quite dependant on local meatworks and the rural sector I think.
Dalby is about the same size and much more likely to go well (I believe) . Mines taking off west of there.
I am no expert though so don't take anything I say seriously.
PS I must drive past 67 West St and have a look.
regards
Giddo
I am not so sure about Warwick. The rail line will go from Goondi to Tmba I believe, meaning Warwick misses out.
I believe it is a somewhat insular community there. Large percentage of original settlers were Irish and English and not much new blood since.
Quite dependant on local meatworks and the rural sector I think.
Dalby is about the same size and much more likely to go well (I believe) . Mines taking off west of there.
I am no expert though so don't take anything I say seriously.
PS I must drive past 67 West St and have a look.
regards
Giddo
Collingwood Park?
Hi GIDDO,
I got a call from the RE Agent asking me to increase my offer.
I learnt that the Zoning is Residential Conservation.
This Allows you to renovate the property in the current style of the property being gabled, weatherboard character cottage.
Single dwelling.
I did not increase my offer and told the RE Agent that I am not interested any more.
Thanks for the feed back and offering to drive past the property.
The asking price was 189K, mine was 180K.
I was also told that the land value of the property would be 150 -160 per Sq Meter.
Which is almost same as Collingwood Park ( Just comparing as I had the Collingwood parks Value)
I have noticed that I dig deeper in research after i make an offer.
This forum is a wealth of information, more I read more I understand and the more I become fussy.
Any thoughts about Collingwood Park? ( Search results nil)
Sam
Hi GIDDO,
I got a call from the RE Agent asking me to increase my offer.
I learnt that the Zoning is Residential Conservation.
This Allows you to renovate the property in the current style of the property being gabled, weatherboard character cottage.
Single dwelling.
I did not increase my offer and told the RE Agent that I am not interested any more.
Thanks for the feed back and offering to drive past the property.
The asking price was 189K, mine was 180K.
I was also told that the land value of the property would be 150 -160 per Sq Meter.
Which is almost same as Collingwood Park ( Just comparing as I had the Collingwood parks Value)
I have noticed that I dig deeper in research after i make an offer.
This forum is a wealth of information, more I read more I understand and the more I become fussy.
Any thoughts about Collingwood Park? ( Search results nil)
Sam
Last edited:
Hi Pete and All,
I am not so sure about Warwick. The rail line will go from Goondi to Tmba I believe, meaning Warwick misses out.
I believe it is a somewhat insular community there. Large percentage of original settlers were Irish and English and not much new blood since.
Quite dependant on local meatworks and the rural sector I think.
Dalby is about the same size and much more likely to go well (I believe) . Mines taking off west of there.
I am no expert though so don't take anything I say seriously.
PS I must drive past 67 West St and have a look.
regards
Giddo
No worries mate. It is good too hear others opinions on things some times.
Thank you for the info.
Peter
