Skip to main content
November 2, 2021

Toowoomba Presents Opportunities For First Home Buyers

It’s been a bumper year for people getting their first foot on the property ladder.

Figures from the ABS show that the total value of loans to Australian first home buyers in August was up 11.2% on the same time last year. And the data shows that many of them are purchasing here in Toowoomba. We take a look at the opportunities for first home buyers in Toowoomba.

Toowoomba proving popular with first home buyers

Research from mortgage broker platform Hashching analysing more than 3000 property transactions by independent mortgage brokers reveals Toowoomba is a magnet for first home buyers. Almost one-fifth of Queensland’s first home buyer transactions this year have taken place in Toowoomba’s 4350 and 4352 postcodes.

Toowoomba is a magnet for first home buyers from across Australia

With house prices rising nationwide this year, first home buyers from Brisbane and beyond seeking more bang for their buck are finding what they’re looking for in Toowoomba.

Despite regional Queensland’s median house price rising by an impressive 17.8% to $458,839 in the 2020/21 financial year, the area still offers buyers exceptional value. Toowoomba is attracting first home buyers priced out of markets like Brisbane, Sydney and Melbourne and elsewhere in Queensland. Strong interest from interstate is predicted to continue into next year as remote working moves from a pandemic novelty to the new normal, and people seek out our idyllic Queensland lifestyle.

Government stimulus giving first home buyers a helping hand

Together with historically low interest rates, government stimulus designed to help Australians buy their first residence has contributed to the flurry in first home buyer activity this year and last.

The Commonwealth Government’s First Home Loan Deposit Scheme (FHLDS) and New Home Guarantee (NHG) are set up to assist first home buyers in purchasing a property with a deposit of as little as 5 per cent. Since January 2020, the two schemes have facilitated the purchase of 22,879 homes nationwide, and they haven’t all been in the capital cities. Regional centres, including Toowoomba, have also benefited, with the Real Estate Institute of Australia (REIA) reporting that almost 100 first home buyers have purchased in Toowoomba with the help of the two schemes. The HomeBuilder scheme, now closed, also drove up interest in local vacant land.

Together with the new Family Home Guarantee, these popular schemes are running again in the 2021/22 financial year, giving eligible Toowoomba first home buyers the chance to apply for a leg up onto the property ladder.

What does Toowoomba have to offer first home buyers?

It’s no wonder first home buyers are snapping up property in Toowoomba. It has the winning formula – affordable homes, good schools, employment opportunities, excellent transport links and predicted property market growth, all only 90 minutes from Brisbane. With a burgeoning food and drink scene, plenty of gardens and green spaces, scenic views and that fresh mountain air, it’s no wonder the Garden City is sought out by first home buyers from both near and far.

Are you hunting for your first home in Toowoomba?

Whether you’re looking for a tidy unit or a family home, we can help. Get in touch with our friendly team today.

Article by Gary Klein

For over 35 years, Gary has been involved in the profession of selling. He held a senior position in a large local business in town and was in fact the company trainer, inductor and troubleshooter. From his experiences, he understands people very … View profile

What’s my home worth?

Get a detailed estimate of your property’s value in today’s market

  • Hidden

  • Hidden