If you compare the increase in value of investment property in Roma, 4455 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this QLD suburb was -4.76%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Roma has fallen somewhat when compared to the 5 year average annual rate.
Property investors looking for a bargain in Roma should be aiming for at least -18.75% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Roma the average time real estate has been on the market is 173.03 days.
Advertised rents are around the $250 mark per week – giving a return of 5.20% 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.”