Toowoomba Research Factsheet 2nd Half of 2017
The house market in Toowoomba and its surrounding suburbs has witnessed solid performance over the past 12 months. The median house price has risen by 3.0% (higher than the annual growth in the wider Toowoomba Regional Local Government Area) to $378,000 in Q2 2017. Meanwhile, the median weekly rents have remained fairly stable at $330, which when combined with a rental yield of 4.5%, make Toowoomba and its surrounding suburbs favourable for investors.
The house market in Toowoomba and its surrounding suburbs has witnessed solid performance over the past 12 months. The median house price has risen by 3.0% (higher than the annual growth in the wider Toowoomba Regional Local Government Area) to $378,000 in Q2 2017. Meanwhile, the median weekly rents have remained fairly stable at $330, which when combined with a rental yield of 4.5%, make Toowoomba and its surrounding suburbs favourable for investors.
While median unit prices have slightly softened to an affordable price of $295,950 over the past year, the median weekly rent for units has increased to $275 per week. This combined with the rental yield of 4.8%, indicate Toowoomba and its surrounding suburbs not only as an attractive option for investors but also a sought-after location for first home buyers.
In the 2nd half of 2017, a large number of project developments is planned for Toowoomba, with the majority (59.5%) of this being invested in infrastructure projects. This will improve liveability, connectivity, general conditions, and groundwork for commercial activity; all of which will contribute to local economic growth in the area.
