AIRPORT TRIGGERS BUYING FRENZY
WITH Brisbane West Wellcamp Airport now only months from opening, residential developments in the Toowoomba region are popping up and selling strong.
Developers and real estate agents are noting enthusiasm from investors and the fly-in fly-out (FIFO) worker market.
QM Properties sales manager Damien Ross said The Fairways estate at Hatton Vale, east of Wellcamp, was experiencing a “mini boom” due to the coming airport and other infrastructure.
“A combination of the new airport and the Toowoomba Second Range Crossing (bypass) is drawing many sales,” he said. “Position is everything in real estate and we are very well placed in relation to these major infrastructure projects.
“This proximity has caused a mini boom, with the fly-in flyout and drive-in drive-out miners responding to the development.”
First-home buyer Felicity Lyon moved into The Fairways with fiance Scott Black about three months ago and said she looked forward to the new airport being operational.
“Scott is fly-in fly-out, so it would be nicer to drive to Toowoomba than Brisbane every four weeks,” she said.
“We’ve met a few people who are fly-in fly-out.”
Toowoomba director Kim Taylor said the infrastructure had caused a sales surge in new estates, including Sanctuary Rise in Wilsonton and Ironbark Ridge in Westbrook.
“I have personally sold, from Christmas to now, over 150 blocks of land,” Mr Taylor said.
“At Sanctuary Rise we just settled the first stage and already there are 10 homes on site.
“People want to start building.”
Mr Taylor said Toowoomba’s property market had been strong since September and he had also noticed the recent FIFO trend.
“The airport is going to make Toowoomba so much more accessible,” he said.
“We were a sleeping city but we’ve come alive.”
Aside from the airport and bypass, the region is also set to receive upgrades to the Warrego Highway, access to the Inland Rail project between Brisbane and Melbourne, and a multimillion-dollar shopping development in the Toowoomba CBD.
Toowoomba Regional Council mayor Paul Antonio said the area’s economy made it “one of the brightest spots in Queensland at the moment” and the property market benefited from that.
“From what I am hearing, there is competition for almost every house (new and existing) that goes on the market,” he said. “There are more ‘sold’ signs around Toowoomba than ‘for sale’, and investors are looking to buy houses sight unseen.”
Mr Antonio said there had been an 8 per cent growth in property value during the past 12 months and he expected the positivity to continue.
“There’s an enthusiasm in Toowoomba there has never been in my lifetime,” he said.
The airport is on track to open in October.
FIRST-HOME BUYER: Felicity Lyon with son Tyler Black, 3.