Prices rise for the second consecutive quarter in Toowoomba

Tegan DeClark
According to the latest figures released by The Real Estate Institute of Queensland (REIQ) for the June Quarter, homes in Toowoomba have risen 3.8%. The median sale price was $299,000. Tegan DeClark from Ray White Toowoomba said that the growth was great compared to Brisbane with a modest growth of 1.9% and negative growth for Brisbane City, -1% and Ipswich City -3.3%. "We expect to see the positive trend in Toowoomba to continue through the third and forth quarter of this year." In addition to our market holding up well compared to others in Queensland the four rate cuts since November and the stamp duty concession reinstatement are starting to have a positive affect on the market. Loan Market unconditional approvals for June 2012 were up 19% in Queensland from June 2011. This reflects on the continuing interest of people entering into the buying cycle in next few months.