Roma has had a very poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -16.67% to date .
Roma,4455 was ranked 2600 in Australia by increase in median property value over the quarter.
Property buyers and investors in Roma 4455 should be seeing an average reduction in asking price of around -17.50% . This means that Roma is holding prices well when compared to other suburbs in QLD.
A $250 per week rent on the median house gives suburb investors a gross yield of circa 5.20%, without taking into account capital value appreciation, which has been averaging out at 2.04%.
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.”