QLD Toowoomba

Hello. Early into my investment journey trying to soak up knowledge and wrap my head around multiple markets.
Gold Coast based but looking at Toowoomba for a possible investment.
Where in the cycle is it?
Would you recommend investing there?
I think Logan’s/ Brisbane to hot at the moment any half decent house is getting snapped up.

So thoughts on toowoomba? Thanks

 

If you do a Toowoomba search there is a thread from last year that has more info on Toowoomba. I have 2 townhouses there bought in 2012 and 2014 and follow the market statistics online but haven't talked to agents on the ground in the last 12 months. Toowoomba prices have gone sideways since August 2014. Had an ok run 2011 to 2014 but has had oversupply issues since then and i think they still exist, just judging by how many newish units/apartments and houses are for sale now. Has great infrastructure being built (multiple projects totalling bilions of dollars) now and over the next few years but that is balanced out negatively by the the oversupply of dwellings. Long term it will probably be ok and have another growth phase but personally i don't see much capital growth in the next couple of years. Great diversified economy, low unemployment, heaps of infrastructure and solid population growth so good long term fundamentals but oversupply has killed the growth. There are probably other regional towns that offer better prospects short term but also you can probably find yields just as good as Toowoomba in Brisbane, Canberra, Hobart for example, with better CG prospects. The flipside being that maybe this is a good time to buy, you may be able to get a bargain, but may have to wait a few years for any growth.

 

No doubt compounded by the end of the mining boom. I'm actively looking on the ground there at the moment and agree there's definitely no hurry. I think the growth is a fair way down the track.

Willy