What $240K gets you...
Why it’s better to buy here
THERE are many benefits to living in Toowoomba, but the bang you get for your buck in the Garden City housing market is attracting buyers in waves.
While house prices fluctuate down the hill in Brisbane, the city is experiencing a quiet ebb and flow in real estate that is providing quality property far more aesthetically pleasing than the state’s capital.
The sheer size of land you can get in Toowoomba is greater than what is available in Brisbane for the same price, but properties up the Range are also far easier on the eye, according to the state’s leading housing market body.
“The Toowoomba market is outstanding and it is such a beautiful city,” Real Estate Institute of Queensland’s Felicity Moore said.
“It is one of the highest performing markets in Queensland over the past five years.
“If we’re talking bang for your buck you tend to get a better deal in Toowoomba than you would in Brisbane.
“It varies so dramatically in Brisbane because you have to pay for a view whereas those things come with many homes in Toowoomba.”
Toowoomba’s average median house price is $350,000 in comparison to $650,000 in the Brisbane local government area, according to the REIQ.
The city is bucking a state-wide trend that has seen the number of rentals rise, with data from the
REIQ also showing an upward trajectory for the value of property in Toowoomba.
“Toowoomba is the star performer with the annual median unit price growing 25.7% from $245,000 in March 2012 to $308,000 in March 2017,” the REIQ’s Queensland market monitor report said.
And given the choice, one of the city’s own experts is willing to put their money into the Toowoomba market rather than pull up sticks and head into the city.
“Toowoomba (over Brisbane), absolutely no question about that,” Asset One property manager Ryan Latcham said.
“It’s a great place for families and it can satisfy anybody’s interest because we’re close to everything.”
A greener environment, less pollution and first-class facilities are the big selling point for the region and Ms Moore is confident that the pros outweigh the costs for those deciding to move up the hill from Brisbane.
“The benefits are less traffic congestion and the beautiful wide streets in (Toowoomba),” she said.
“The daily commute in Brisbane is 45 minutes and you can get further than out of town in that time in Toowoomba.”