Toowoomba’s popularity rises in regional property boom

The Queensland state-wide real estate sales that showed significant growth last year have continued. One of the hot spots, Toowoomba, was reported by the ABC to have had a 79% increase in unit prices in East Toowoomba in the past 12 months, according to the Real Estate Institute of Queensland.

The boom has been driven by people wanting to escape the big cities due to COVID, as well as the affordability, the growing ease in working from home, and the attractive family lifestyle. All of that, combined with more of the locals staying in the area, has contributed to the area’s growth. And whilst the increase is largely from those relocating from Brisbane, levels of interest from cities in other states have also been on the increase.

Toowoomba ticks a lot of boxes for the young, growing family.

The prices are lower and the land lots larger, delivering more for your hard-earned dollar. In East Toowoomba, the 79% rise in unit sales through 2020 and early 2021 underlines the resilience of the market and points to a bright future for investors.

Toowoomba has a reputation for excellent schools, another factor in making it ideal for families, along with its historical attractions, such as the Highfields Pioneer Village, and the Cobb and Co. Museum. Its natural parkland attractions include the Japanese Garden, the Queen’s Park, Botanical Gardens and Laura Banks Park, host to the annual Carnival of Flowers.

Accessibility

Toowoomba’s close proximity to Brisbane, an hour and forty minutes drive on the Warrego/A2 highway, adds to its value, making it accessible for work commitments, keeping in touch with family and friends, and leisure activities. The town also boasts its own airport, the Toowoomba Wellcamp Airport, with flights to major cities.

Sustainable growth

Toowoomba has also seen an expansion in commercial developments, shopping centres, and housing estates. In August, the Council announced that there are 1,600 hectares of under-developed land that is zoned for residential development, able to accommodate over 12,000 houses and 3000 units.

If Toowoomba ticks the right boxes for you, either for lifestyle, investment, or if you’re planning to sell, Tomoro can assist. We have the market knowledge and expertise in property management to help you with all of your real estate needs in the Toowoomba region.