Property headed for a boom, with big blocks selling fast
AFTER sitting stagnant for the past five years there are signs the Southern Downs real estate market is due for a bump as out-of-town investors and tree-changers buy up bigger blocks.
Of the 39 properties agent Helen Harm sold in the past six months, 28 were to buyers previously living outside the area.
"They are moving out here from Brisbane and the coast because they are looking for those quarter acre plus blocks," she said.
A significant amount of sales are for land outside of Warwick or on the town fringe.
Estates with large and more expensive blocks, like Griffith Estate and Darling Heights, are filling up and Mrs Harm said the new development at Hawker Rd would also sell quickly.
Part of this is a lack of suitable vacant blocks as land containing cheap or rundown houses is hard to develop.
Mrs Harm said the cost of the demolition and removal could be prohibitively expensive but a key problem was sewage and it was blamed on the early Warwick town planners.
"When the council laid sewage lines years ago, they put them at the back of the blocks," she said.
This means builders and renovators must re-rout sewage lines if before construction.
"Back then they probably weren't thinking about how big Warwick would get," Mrs Harm said.
The good news for buyers is land in the bigger blocked estates seems to be a solid buy.
"They hold their value," Mrs Harm said.