17 March, 2022
Property shortage hits Oakey
Management Selling Principal of Ray White Rural Oakey Geoff Byers believes Oakey is an untapped market expected to grow.
Mr Byers said he’s seen lots of people move to Oakey for a variety of factors, namely Covid and the town’s friendly country atmosphere.”
“A lot of people are also coming to this part of the world because they don’t want to live in the city and they’re still looking for that rural atmosphere,” he said.
“Oakey sits on the door-step of Toowoomba… it’s only 15 minutes down the road.
“Oakey’s got everything people need.
“It’s only for some of their wants that people might go to Toowoomba or elsewhere.
“Whilst it has increased in price, the Oakey market is still very affordable to people compared to other areas.”
Mr Byers said he hopes Oakey continues to grow as Toowoomba expands.
“We’re hoping that’s the case and that we will see more industry and business come to the town,” he said.
Mr Byers said Oakey is sitting on the doorstep of the Charlton industrial estate and on the doorstep of Wellcamp airport, which both have tremendous things happening.
“There’s lots of industry and development, and long-term projects there.
“Meaning Oakey is primed to get the spill-over from those areas, as well as people who don’t want to or can’t afford to live in Toowoomba.”
Mr Byers said that the majority of people moving to the town want that friendly country atmosphere.
“It’s a pretty good little town,” he said.
Unfortunately, there are no rental vacancies in Oakey.
“We’ve got nothing at the moment,” Mr Byres said.
“We’ve got a waiting list of people who are looking for rental properties.”
Mr Byers said there are renters coming in every day checking to see if something has become available.
“There’s about half a dozen on the waiting list at any time,” he said.
“We can’t fill everybody’s needs.
“Some are waiting 4-6 weeks and possibly even longer.
“It’s really hard to put a specific time on it [the wait].
“There are houses out there for sale, but there’s no doubt that the pool of properties is getting smaller because there has been so much sales activity in the area.
“The quantity of houses is definitely getting less.”
“Because houses are selling, longer term tenants who reach the end of their lease have to move out.
“These the ones who are struggling to be rehoused.”
Mr Byers said they have had to hand out Red Cross and Lifeline numbers to those who have nowhere to live anymore.
“Fortunately, we’ve been able to rehouse most of our long-term renters,” he said.
“We certainly try and put an emphasis on rehousing anyone we need to.”
However it’s not just Oakey and surrounding towns with a shortage, but people from larger areas who relocating to the local area because of similar issues.
“We’ve had people from Toowoomba enquiring out this way because they’ve been unable to find properties in Toowoomba to rent again,” he said.