A tenth consecutive rate rise has done little to deter couples like Anisia and Nathan from owning their own home in Toowoomba, where prices remain 30.4 per cent higher than at the onset of COVID-19.
Anisia and Nathan Glover bought their first home in Toowoomba a few weeks ago.abc.net.au/news/interest-rate-hike-no-deterent-toowoomba-home-buyers-high-demand/102072876Faced with the uncertainty of a six-month lease, Anisia and Nathan Glover were determined to own a home no matter what.House prices in Toowoomba remain 30.
Ms Glover said it was difficult to find a house that suited them and their four children but, compared to their previous location on the Gold Coast, Toowoomba had been a lot more affordable. Property data firm CoreLogic's head of research Eliza Owens said home values in Toowoomba fell by just 0.2 per cent during February."This still only takes the cumulative decline in home values to minus 1.9 per cent, following a recent trough-to-peak upswing of 34.9 per cent," she said.Ms Owens said Toowoomba remained well placed for further growth.
"It's a bit easier to get into the market here. We're not as expensive as the Gold Coast for example [where] the median sale price is I think about $975,000," he said."There just aren't enough properties to sell and there's still quite a bit of buyer demand."in the region, Toowoomba and Adelaide-based mutual bank Heritage and People's Choice Limited said many of its members were in a reasonable position.
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