Toowoomba Research Factsheet 1st Half of 2018

In Q4 2017 the property market for the combined postcodes 4350 and 4352 in Toowoomba recorded a median house price of $400,000 and $296,250 for units, representing an annual price change of 2.7% and -3.5% respectively. Over the same period of time house prices in the Toowoomba Regional LGA grew by 0.5% to $385,000 and unit prices grew by -0.7% to $304,000. Not only are median house prices in postcodes 4350/4352 well above the Toowoomba LGA, it also offers higher capital growth. This indicates that the 4350/4352 area is a sought after market by buyers and investors.

Median rents in postcodes 4350/4352 has increased for both houses and units over the 12 months to Q4 2017, currently at $345 per week and $280 per week respectively. Furthermore, rental average days on market has improved, sitting at 28 days (houses) and 32 days (units). Low vacancy rates of 2.4% demonstrate strong rental demand in the area, especially when compared to Brisbane (3.8%). Investors are benefiting from 4.5% (house) and 5.0% (units) yields, higher than Brisbane’s 3.8% and 5.0% respectively.

Toowoomba is actively working towards economic expansion and is set to deliver approx. $430.9M of new projects in 2018. Commercial accounts for the majority of development value (53.2% or $229.0M). This is followed by infrastructure projects ($131.9M or 30.6%), mixed use ($50.0M or 11.6%) and residential ($20.0M or 4.6%).