While it may not be on the top of most people’s hitlist, Toowoomba is steadily building a solid reputation. And given everything the area offers investors and potential residents, it is easy to see why.
Australia’s second largest inland city, Toowoomba sits 125km west of Brisbane on the crest of the Great Dividing Range. Due to its unique vantage point, many places within the city enjoy panoramic views across the surrounding landscape. This is complemented by approximately 150 public parks, which have earned the area the nickname of “The Garden City”.
While there are limited rail services to Toowoomba, the city is well connected to Brisbane and beyond. Recent infrastructure upgrades have improved commutability to most of the state’s south-east, and this is reinforced by regular bus services. The city also benefits from two airports, though one is mostly for medical air services and training and recreational flights.
Once largely an agricultural area, Toowoomba now has a range of thriving local industries. In particular, it is known for its strong education and medical sectors, both of which service the greater Western Queensland area. The region also has a strong defence force presence and is home to several notable finance, construction, and building material companies.
All of this combines to make Toowoomba a location with plenty of upside, particularly for property investors. But making the most of the area’s potential still requires careful consideration and planning. Because, as any experienced buyers agent knows, the difference between a good investment, and a great one, is focused research.
Luke and Julian each have over 20 years of property investment experience.
There is a lot to love about Toowoomba, but one of its biggest appeals has to be its affordability. As with any city, there are the more expensive enclaves – like Prince Henry Heights, Cabarlah, Hodgson Vale, and Middle Ridge. But even in these areas you still get a lot for your money compared to other parts of Queensland’s south-east.
And you will find even better value for money outside of these blue-ribbon areas. Despite sustained growth over the last few years, Toowoomba’s median property price is still a fraction of Greater Brisbane’s. This, combined with the easy commute into the capital, is making the area increasingly attractive, particularly to first home buyers.
Investors are also starting to see the potential of Toowoomba, with the city drawing interest from across the eastern states. The region’s rental market is known to be quite competitive, with relatively limited stock and generally low vacancy rates. This tends to push up prices and healthy rental yields of 5% or more are not uncommon.
Toowoomba is particularly popular with young families and access to quality education is a major driver for many renters. As such, investors would be wise to target properties in the catchment zones of the region’s best state schools. Within these areas, larger family homes with three or more bedrooms and generous backyards are particularly sought after.
That being said, good investment opportunities can be found right across the city. Many areas offer great capital growth potential, particularly for those willing to make a few strategic upgrades and improvements. You just need to know where to look and which updates will deliver the greatest returns.
At Search Party Property, we understand that a “good” opportunity is not good enough for most serious property investors. For those truly focused on building wealth, choosing where to invest is all about finding the best opportunity. And, as one of the country’s leading buyers advocates, this is where we excel.
To find you the perfect investment property, we first need to know what you are after. That is why we take the time to get to know you, your background, and what you want to achieve. We will also work with you to develop a tailored strategy that suits your financial situation and investment goals.
Once we know what we are looking for, we will begin the search by casting a wide net. Our team are experts in assessing the investment potential of a property and will pull data from multiple sources. They will then distil this down into a detailed, but easy-to-read, report on any properties that fit your criteria.
From here, it is up to you to decide which property you prefer – a decision we will happily help you make. We will also guide you through the purchase process, arranging inspections and negotiating the contract terms for you. We will even help you plan any post-purchase work required to maximise the property’s rental appeal and growth potential.
We are committed to helping more people get into property investing and aim to make the process as painless as possible. We have spent the last 20 years refining our investment model and specialise in helping everyday Aussies build their portfolio. For more information on how we can help you secure your financial future, contact the Search Party Property team today.