So You’re Thinking Of Moving To Toowoomba
Thinking about moving to Toowoomba?
You couldn’t have picked a better time. Despite media coverage of a cooling housing market in the first half of 2019, the Garden City has been surprisingly resilient against the tide, with some suburbs like Middle Ridge considered among the healthiest for long-term growth. Here’s why it’s such a good time to invest in the Toowoomba region.
Toowoomba suburbs on the up and up
Would it surprise you to learn that experts are calling Toowoomba one of the best places to avoid the ‘doom and gloom’ surrounding the recent property downturn? Well, it’s true! What’s more, suburbs like Middle Ridge are set to see remarkable growth over the next three years, which is a hugely positive sign for investors looking to buy in the area.
Considering that Middle Ridge and surrounding suburbs are mostly filled by owner-occupiers, investors can expect family-size (e.g. four bedrooms, two bathrooms) homes to get lots of attention on the rental market. Add to that the suburb’s lush surroundings of parks, schools and modern amenities, and it’s no wonder investors are looking to Toowoomba to expand their portfolios.
Experts see Toowoomba property primed for recovery
The best news for those looking to buy in regional areas is that many are already on the road to recovery. Toowoomba is well and truly in this camp, with experts placing the Garden City (along with Alice Springs and Rockhampton) “at the bottom of the cycle ahead of recovery”.
Rather than waiting for the tide to turn in major cities, property investors are suddenly realising the potential in regional markets. So if you’re thinking of moving to Toowoomba, there’s a lot to get excited about in terms of the residential market.
State government investing heavily in infrastructure
We’ve already covered in detail all the various factors that are combining to make the Toowoomba property market success in 2019 and beyond. Most important of those is both the state government and the private sector’s investment in the region’s infrastructure.
Qantas is building its Pilot Academy at Wellcamp Airport, creating jobs and welcoming rookie pilots to the area from the second half of 2019. Grand Central shopping centre’s half-billion-dollar redevelopment is also drawing hundreds of new retailers to the city, boosting Toowoomba’s economy in the process.
Investing in education will see population growth
But for investors looking to buy in an area where their property will enjoy low rental vacancy rates, they’ll be pleased to see the Queensland Government’s investment in both local schools and hospitals.
Two major state high schools are receiving a combined total of more than $25 million to upgrade their facilities and welcome greater student numbers, while USQ recently opened its $16 million Agricultural Science and Engineering Precinct. For healthcare, a new Toowoomba Hospital will be built as part of the Governing from Toowoomba/Darling Downs program.
Incentives for relocating
To spur further growth in our city, Toowoomba council is seeking to stimulate CBD sustainable growth, diversity and value to the local economy through the Toowoomba CBD Development Incentives Policy. To be eligible projects should have a construction value over $3 million and substantially commence by 30 June 2021 and completed within 2 years. As a result of this, we expect to see our CBD grow and evolve.
Businesses looking to invest or relocate to Toowoomba can also apply for incentives from the Queensland Government.
What if you’re not an investor?
If you’re thinking of moving to Toowoomba and you don’t want to invest, you still stand to benefit from all the infrastructure and investor buzz – and the great lifestyle on offer in our Garden City.
Are you ready to invest in Toowoomba?
With so much growth potential in Toowoomba, investors are eyeing off big opportunities for property success. Contact an experienced local agent today and find the perfect investment home in the Garden City.