Withcott sets pace in price increases

A SUBURB of less than 2000 people has topped the list for the biggest house price index growth over the past 12 months in the Toowoomba region.

According to data from property researcher CoreLogic, Withcott houses experienced a 17.3 per cent increase in their house price value index over the past year, to a median value of $485,801.

Across the Toowoomba region outer suburbs lead the way in house price index growth, with Placid Hills (15.9 per cent), Helidon (14 per cent), Meringandan West (13.9 per cent) and Wyreema (13.8 per cent) also recording double digit growth.

RealWay property consultant Ricky Smith has been a resident of Withcott for 25 years, and for the past three years has been selling property in the region.

Mr Smith said the Toowoomba Bypass made Withcott a more attractive location to live in and invest.

“I always knew that once the Toowoomba Bypass opened it would change people’s perspective on the area,” he said.

“I’ve believed that Withcott has been undervalued and for what the area has to offer it’s extremely good value.

“When the trucks used to be on the range there was a mindset that people from Toowoomba had that they’d never consider looking down here.

“Now that the bypass is open there isn’t that same amount of traffic and people don’t think twice about driving up the range.”

Mr Smith also pointed to the larger block size of properties as another factor that has put Withcott on the radar.

“(Lockyer Valley Regional) Council has requirements that blocks can’t be cut up too much, the smallest blocks available are 2000 sqm, and the average block size is around 3000 sqm,” he said.