Property value increases in Roma have tracked lower than the QLD average of 2.11% over the last 12 months.
While Roma,4455 ranked number 448th in QLD for increase in median house value (annualised) increase, it is ranked 668th over the last 5 years.
Sellers are offering property buyers an average discount of -18.71% to buyers in Roma at the moment, which is less than average for the rest of QLD.
On average over the past year, suburb has had 3.67 sales per month, which equates to 44 per year.
Advertised rents are around the $260 mark per week – giving a return of 5.41% based on the median price in Suburb
Raine & Horne Roma principal Peter Holland notes that, in stark contrast to Brisbane’s slow market conditions, interest in the Roma property scene has seen a real spike in recent months.Full summary
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Raine & Horne Roma principal Peter Holland notes that, in stark contrast to Brisbane’s slow market conditions, interest in the Roma property scene has seen a real spike in recent months.
“The real estate climate in Roma started changing in late May,” he says. “This has led to more telephone, walk in and email enquiries over the last five weeks than we have had in the previous 12 months, and as a result many buyers are now making moves to secure properties.”
The main economic driver here is the resources industry (Roma is within 200km of the much talked about resource-driven markets of Chinchilla and Miles for example), and Holland believes that boom times in the Surat Basin are already starting to fuel demand for property in his area.
“The resource industry is gearing up for the harvesting of huge coal and gas reserves in the Surat Basin, and this has seen mining companies purchase residential properties for their employees, as well as commercial and industrial sites,” he adds. “Also, cashed-up young people working in the resource industry are now well positioned to upgrade their homes.”