The REIQ Queensland Market Monitor has revealed Toowoomba's housing market has faced a 1.1% growth rate over the past 12 months.
Whilst median house prices fell by 3.1% in the last quarter, the annual median price, (often a better indicator for price trends), increased to $355,000.
Going back further, house prices in Toowoomba have increased 18.3% over the past five years, or by $55,000. This is equivalent to a price gain of $11,000 per year.
The report revealed Harlaxton experienced the highest annual growth, with a rise of 12.7%. The suburb which suffered the greatest loss was East Toowoomba, with a 16.7% drop in the annual median sale price.
The detailed REIQ report also highlighted Toowoomba's fastest-selling suburbs. Ranked by the shortest median days on market for the year to February 2018, the suburbs included:
1. Toowoomba City (25 days, $342,000)
2. Centenary Heights (30 days, $370,000)
3. Meringandan West (34 days, $436,000^)
4. Rangeville (36 days, $445,000)
5. East Toowoomba (38 days, $412,500)
*Note: All information provided by the REIQ Market Monitor.
If you would like to find out more, Halo Properties is pleased to provide you with a complimentary copy of the full-detailed report.