Record Breaking Low Vacancy Rate - Toowoomba Property Management
Not since May 2010, has Toowoomba seen 0.4% vacancy rate. The local vacancy rate has been consistently falling through the over the past 18 months. The vacancy rate reflects the strong competition in the market. Typically 3% vacancy rate is considered “balanced” and fair for landlords and renters. However, with Toowoomba’s rate so low, it is heavily geared in favour of savvy investors. Toowoomba’s medium rental price has risen by 7.5% (for houses) and 4.7% (units) over the last 12 months – as at June 2021.
Toowoomba Medium Rental Prices are now at:
4 bed houses - $430.00 (up from $400 June 2020)
2 bed units - $280 (up from $267.50 June 2020)
Success Realty continues to manage properties well above the Toowoomba average. The reason for this, is we continue to present properties in their best condition, select quality tenants, and work with owners to ensure that their property is maintained to the highest standard. In theme with the current Toowoomba Carnival of Flowers we are running a promotion to encourage tenants to present and maintain their yards and gardens by giving away $100 Bunnings vouchers to the winning tenants.
Toowoomba continues to be an investment hot spot because of the strong cash flow properties return and the demand for rentals will continue to be strong because of the high number of families moving to the region. Experts say, the growth rate has been both strong and consistent, with 2000 to 4000 people moving to the region each year. Increasing job opportunities, affordable housing, infrastructure investment and domestic tourism are all driving this growth.
