Rose City among the cheapest for rentals
RENTAL prices in Warwick are among some of the cheapest in Queensland.
The Domain September Quarter Rental Report, released today, found Warwick's median unit and house rent were among the lowest of regional areas.
Warwick's quarterly median weekly house price was $260, which was $5 cheaper than the median unit listing in Toowoomba.
Domain real estate economist Dr Andrew Wilson said affordability was a Warwick selling point.
"It's solidly a rural community of course, but I think its advantage is it is certainly being recognised as a more affordable option than Toowoomba," he said.
"I think that's where a lot of demand is driving into Warwick. Even investors are looking for where the demand will be for more affordable accommodation and I think that's what Warwick is offering.
"Even though there's not a lot of turnover there in property. It's gathering interest because it is a more affordable option than Toowoomba."
While Warwick's rental prices are low the report found the weekly median house asking price over the past year increased by $10.
But the weekly median unit asking price in Warwick has dropped from $211.50 to $197.50 over the past year.
Dr Wilson said Warwick was well positioned to take advantage of a growing "green change" trend.
He said people looking to live in regional towns still close to major centres would find Warwick appealing.
Nationally the median unit asking price dropped 0.4% over the September quarter to be up 1.9% over the last year.
While the median house rent dropped 0.3% over the quarter contributing to 0.7% annual growth.
How have rental prices in Warwick changed over the last quarter?
Over the September quarter 156 houses and 28 units were listed for rent in Warwick.
The median house asking price was $260, up from $255 last quarter.
The median unit asking price was $197.50, down from $2000 last quarter.