Queensland top 5 growth suburbs in Toowoomba
PROJECTS like the Toowoomba Second Range Crossing are boosting real estate prices in Toowoomba, with the city claiming the top five suburbs for growth in Queensland.
Realestate.com.au ranked the top five suburbs in the state based on a maximum median price of $350,000 for units with one or two bedrooms.
The results, listed by suburb, unit type, annual growth, median price include:
- Wilsonton - 2bd - 5.7% - $250,000
- Toowoomba City - 2bd - 4.9% - $233,100
- Centenary Heights - 2bd - 3.9% - $239,000
- Kearneys Spring - 2bd - 3.6% - $262,500
- Newtown - 2bd - 3.1% - $251,000
Real estate agent Bruce Gatfield said the growth was related to confidence from the huge amount of investment in and around the city.
He said the $500 million redevelopment of Grand Central, Brisbane West Wellcamp Airport and the proposed Melbourne to Brisbane inland rail project had buoyed confidence.
Mr Gatfield said the industrial hub at Charlton and educational facilities like the University of Southern Queensland Toowoomba campus made the Garden City a great place to live.
He said young families were looking to buy, and also build in the region.
"Toowoomba has so much potential, the climate and proximity to major centres.
"It's a good place to be in real estate."
Historically low interest rates are also playing a role.
Mr Gatfield said people were looking for a solid investment and didn't need a lot of capital to invest in properties.
He said rental vacancies had tightened in Toowoomba to about 2%.