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Toowoomba – a property market in bloom
toowoomba

Toowoomba is known colloquially as the Garden City because, you guessed it, its temperate climate and elevation nearly 700 metres above sea level means it has an over-abundance of flora.

The city – about 125 kilometres directly west of Brisbane – has had its annual Carnival of Flowers since 1949.

But Toowoomba is no longer just known for its pretty streetscapes and blooming gardens.

Instead, this city of 180,000 people within reach of the Queensland capital has benefited from major infrastructure projects over recent years – including its own privately owned airport!

So, let’s unpack why we’ve been purchasing property in Toowoomba for quite some time.   


Infrastructure here, there, and everywhere 

Let’s start with that quite a few years ago, some very successful local business owners decided to build their airport – as you do. 


The $200 million-plus Toowoomba Wellcamp Airport (WTB) is not just for their personal use, rather it has regular flights to Sydney, Melbourne, and even Brisbane, as well as catering for charter flights, fly-in-fly-out (FIFO) works and international airfreight services. The addition of this very significant piece of transport infrastructure has been a game-changer for not only Toowoomba but also the wider Darling Downs region, which has clearly had a positive impact on the city’s property market.

Another transformative infrastructure project was the Toowoomba Bypass, which was decades in the making. Given the city’s strategic location west of Brisbane, it has long been the preferred route for heavy vehicles hauling goods – often from the Port of Brisbane – north or south. However, that would sometimes cause bottlenecks on the region’s Toowoomba Range or even gridlock if there had been an accident. 


That situation is no more, given that what was formerly called the “Second Range Crossing” opened back in 2019 and is a 41.3 kilometre, grade-separated, dual-carriageway bypass, and partial ring-road constructed to the north and west of Toowoomba.

Other noteworthy projects also include the Toowoomba Railway Parklands, Development Area; the Toowoomba Hospital Redevelopment; and a new Queensland Fire & Rescue Services regional operational facility.

Rising buyer demand

With all of this going on, as well as the city’s diverse economy, growing population, and low unemployment rate, it’s not a surprise that the region is attracting various property buyers, including first-home buyers, tree changers, baby boomers and retirees.

The Toowoomba property market has long been considered one of the Sunshine State’s most stable – even before these new and exciting additions – and has historically posted solid capital growth over the years, remaining much more affordable than Brisbane.

Over the past few years, though, the region has consistently produced stellar market conditions, including resisting the downturn pressures prevalent in many areas in 2023.

Rather, the majority of Toowoomba suburbs are classified as having positive rankings according to the Hotspotting Price Predictor Index. Plus, Highfields, Darling Heights, and Harlaxton all have rising transaction numbers, which are generally precursors to price growth.

While Toowoomba has been on our property radar for years, it’s safe to say that 2023 was when its market started to stand out from the crowd, with many places posting quick sales and soaring price growth. 

Two further suburbs have also been classified as being some of the best performers in the nation with Kearneys Spring recording an annual house price growth of 20.1% and gross rental yields of 4.6%, and Harristown posting annual price growth of 21.5% and gross rental yields of around 5%.

It’s obvious that Toowoomba is having its moment in the property sun, but unlike a bouquet of freshly cut-flowers, its blooming performance is unlikely to wilt anytime soon. 

During our area research and selection processes, we assess 10 key aspects of the area to determine whether it meets our strict criteria.

We refer to this list of qualifying criteria as our ‘Area Top 10’:

  1. Area overview
  2. Infrastructure
  3. Industry
  4. Population and demographics
  5. Assessing the surroundings
  6. Supply and demand – sales | rental | land
  7. Sales and Rental Statistics
  8. Recent properties sold/rented
  9. The word on the street
  10. Inside info 

Give us a call to discuss your property buying needs. We’d love to have a chat. 

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