2017/2018 EDITION
FY18 Toowoomba Report Brendan Mayles
A word from Brendan Mayles
The end of the financial year is an opportune time to assess how the property market is changing across Toowoomba. This report also has a focus exclusively on the communities of East Toowoomba and Mount Lofty.
The January to March 2018 quarter in East Toowoomba was down 32% for house sales in comparison to the same time last year. This will be very interesting to monitor as the year progresses and market data is confirmed.
The last year has seen solid prospects but overall Toowoomba’s house market could well be described as ‘patchy’. The average sale price in Toowoomba was $360,000, a slight increase of 0.8% from last year. Market factors continue to remain quite favourable for the Toowoomba market. With lower than average stock levels the demand for quality properties remains high and with interest rates remaining on hold by the Reserve Bank it is allowing more purchasing power for buyers to take advantage of the record low rates.
South East Queensland remains the most appealing market in the county for both investors and young families. An increasing house price gap between the region and southern capital cities is pivotal in creating new market energy. As a result we are seeing a steady flow of Sydney and Melbourne buyers up north. Our Sydney agents are selling ordinary homes for $2 million and more, whereas you can buy luxury homes in blue chip locations for similar money across Queensland.
In East Toowoomba the market is stable with steadily increasing demand coming from all corners – local upgraders, investors, interstate tree changers and an increased demand from empty nesters. The diversity of demand is resulting in improved sale prices, which in turn is raising confidence.
If you’d like to know what the value of your property is and want to tap into the expertise of our team, get in touch with us so we can advise you on the best strategy to maximise the result for your property. I hope you enjoy this year’s report. 0402 659 010 brendanmayles@mcgrath.com.au
Top 10 Toowoomba House Sales* Address
Bed Bath Car
Sold date
Land size
Sale price
1
7 Bridge St, Mount Lofty
6
3
3
Feb 18
7,446sqm
$2.9M
2
117 Blackwell Rd, Westbrook
3
2
2
Jan 18
25.45Ha
$2.15M
3
19 Sinclair St, East Toowoomba
4
3
4
Oct 17
2,840sqm
$2.15M
4
14 Burraway Ct, Middle Ridge
4
2
7
Aug 17
11.05Ha
$2.005M
5
1 Mayes St, East Toowoomba
4
3
2
Jan 18
2,061sqm
$1.9M
6
7 St Ives Ct, Mount Lofty
4
5
4
Dec 17
1889sqm
$1.7M
7
133 Rosevale St, Drayton
6
3
4
Oct 17
8.52Ha
$1.64M
8
142 Bunkers Hill School Rd, Westbrook
6
3
14
Sep 17
8.44Ha
$1.6M
9
257 Fgg Couper Rd, Westbrook
4
3
3
Nov 17
23.28Ha
$1.55M
5
2
4
Mar18
2,011sqm
$1.55M
10 41 Campbell St, East Toowoomba * Settled sales
Toowoomba's Median Price Movement for Houses 2017
$368k
2016
$365k
2015
$360k
2014
$339k
2013 2012 2011 2010
$315k $295k $305k $300k
2009
$275k
2008
$270k
DISCLAIMER. The information in this report is being provided by CoreLogic RP Data, Price Finder and MARS (McGrath’s CRM System) for the period July 2017 to June 2018. Its accuracy cannot be guaranteed. Parties should rely on their own enquiries and McGrath will not be liable for error or admissions herein.
Where did our last 100 buyers come from? 2%
• Local • Toowoomba Region • Coastal, Queensland • Country, Queensland • Interstate • International
8%
5% 5%
7% 63%
15%
* Subrubs with over 50 sales
$320k
$310k
South Toowoomba
Wilsonton
$360k
$363k Glenvale
Centenary Heights
$382.5k Kearneys Spring
$420k Westbrook
$440k Rangeville
$468.5k East Toowoomba
Mount Lofty
Middle Ridge
$485k
$545k
Toowoomba suburbs with the highest median house price*
East Toowoomba
Top 10 East Toowoomba House Sales* Address
Bed Bath Car
Sold date
Land size
Sale price
1
19 Sinclair Street
4
3
4
Oct 17
2,840sqm
$2.15M
2
1 Mayes Street
4
3
2
Jan 18
2,061sqm
$1.9M
3
41 Campbell Street
5
2
4
Mar 18
2,011sqm
$1.55M
4
24 Campbell Street
5
2
4
Dec 17
1,814sqm
$1.496M
5
92 Campbell Street
4
2
2
Feb 18
1,305sqm
$1.45M
6
2 Sinclair Street
3
2
2
Mar 18
2,155sqm
$1.335M
7
59 Wirra Wirra Street
3
2
–
Jan 18
2,087sqm
$1.325M
8
43 Curtis Street
5
2
2
Mar 18
1,520sqm
$1.302M
9
6 Boyden Street
4
2
2
Jan 18
1,220sqm
$1.115M
4
2
2
Dec 17
2,329sqm
$1.1M
10 27 Godfrey Street * Settled sales
East Toowoomba statistics Houses No. Sold
Median
Highest
Lowest
Average rent
Average yield
102
$468,500
$2.15M
$230K
$340 per week
3.74%
No. Sold
Median
Highest
Lowest
Average rent
Average yield
59
$340,000
$2.35M
$170K
$275 per week
4.33%
Units
Top 10 East Toowoomba House Sales
rego Highway War
Median house price movement in East Toowoomba 2017
$495k
2016
$449k
2015
$460k
2014 2013 2012 2011
$431.25k $392.5k $360k $385k
2010
$368.75k
2009
$370k
2008
$351k
Mount Lofty
Top 10 Mount Lofty House Sales* Address
Bed Bath Car
Sold date
Land size
Sale price
1
7 Bridge Street
6
3
3
Feb 18
7,446sqm
$2.9M
2
7 St Ives Court
4
5
4
Dec 17
1889sqm
$1.7M
3
21 Wirra Wirra Street
4
2
2
Nov 17
1,396sqm
$1.3M
4
6 Sherwood Street
5
3
3
Feb 18
1,216sqm
$1.2M
5
3A Macqueen Street
5
4
4
Feb 18
1,796sqm
$1.2M
6
3 St Ives Court
4
2
3
Feb 18
1,024sqm
$1.151M
7
3 Bridge Street
4
2
3
Jan 18
2,023sqm
$1.03M
8
6 Balmoral Close
6
3
4
Feb 18
1,239sqm
$921K
9
35 Mary Street
5
3
2
Oct 17
916sqm
$890K
4
2
2
Oct 17
1,109sqm
$830K
10 25 Windemere Terrace * Settled sales
Mount Lofty statistics Houses No. Sold
Median
Highest
Lowest
Average rent
Average yield
81
$485K
$2.9M
$265,250
$350 per week
3.59%
No. Sold
Median
Highest
Lowest
Average rent
Average yield
12
$510K
$685K
$195K
$260 per week
2.64%
Units
Top 10 Mount Lofty House Sales
Median house price movement in Mount Lofty 2017
$485k
2016
$443.5k
2015
$484k
2014
$416.5k
2013
$360k
2012
$337.5k
2011
$334.75k
2010
$340.5k
2009
$336.5k
2008
$312.5k
Client Testimonials “We really appreciated the fact that you had 3 contracts available within a week, and the outcome exceeded our price guide. Your innovative ideas were refreshing, and worked a treat. We have dealt with numerous real estate agents over the years, and you are way above the rest. We are happy to talk to anyone regarding your complete professionalism.” Jane and Roger Fry | 171 Geddes Street
“We met with six agents and listened to each of them deliver somewhat unvaried advice with a similar tone; we felt uninspired and unsure. Then we met with Brendan Mayles. After our first meeting, we were confident that we had found our agent. Brendan sold our home at auction for a new street record. We would thoroughly recommend the Brendan Mayles team to our family and friends.” Shane and Samantha Martin | 13 Wirreanda Drive
We were considering selling a property that had been in the family for nearly 40 years. A friend who had sold multiple properties through Brendan Mayles recommended we give him a call.
Recently sold
121A Mackenzie Street, East Toowoomba
Brendan provided a clear plan that we felt extremely comfortable with. The marketing campaign attracted not only local buyers but people from outside the Toowoomba region including interstate. Through the sale we were also really impressed with all the added exposure Brendan secured. On the day of the auction bidding stopped at $452,000 - short of our expectations. Brendan put no pressure on us to take the offer but in fact encouraged us to pass the property in as he wanted to sit down and negotiate further with the buyers. Within 3 hours of the auction finishing Brendan had 2 unconditional offers for us to consider. What was astonishing was he managed to negotiate our highest bidder at the auction up a further $59,250 which we accepted. Looking back we are so grateful to have had Brendan negotiate the sale on our family property. We feel his skillset, determination, speed and focus on our property is what achieved us a fantastic outcome. Powne Family | 121A Mackenzie Street
Meet your local agent
How long have you been in Toowoomba? What do you like best about it?
How long have you worked at McGrath?
My wife Kate, 8 month old son Oliver and I moved to Toowoomba at the beginning of this year from Paddington, Brisbane.
This is my twelfth year in real estate, Kate and I joined McGrath when they first opened in Paddington in 2012. I was the first male agent to join the team in Brisbane.
We couldn’t think of a nicer place to call home and to raise a family.
Dream house?
Regarding your job, what motivates you?
A country homestead surrounded by land and cattle has always been a dream.
I enjoy the competitive nature of real estate and find it rewarding having the opportunity to help a client achieve financial success and buy their dream home. Describe the perfect Toowoomba day? Definitely kicking the day off grabbing a coffee. Sunday is our family day and we love spending time at Queens Park and walking into town for breakfast. Favourite spot for a coffee? Spar at Mackenzie Row. Nothing beats a good coffee and service with a friendly smile.
What’s your favourite neighbourhood, anywhere in the world? Why? Recently visiting New York City for the second time we have fallen in love with the Meatpacking District. How they have converted an out-of-use railroad known as the High Line into a public parkland for locals to enjoy, all by private funding, is inspiring. If you weren’t in real estate, what would you be doing? In 2017 I took on the Simpson Desert Challenge for Youngcare. A 250km trek across the desert and into Birdsville. Through support of friends and clients we raised over $41,000 for Youngcare helping young Aussies needing high care housing. I love how real estate lets me support these social issues and hope to be able to do more and more in the future.
Brendan Mayles 0402 659 010 4616 9999 brendanmayles@mcgrath.com.au
mcgrath.com.au