Herron Todd White Valuers – Month In Review
As published by Herron Todd White Valuers
Being one of the more affordable regional locations in Australia, Toowoomba and surrounding suburbs provide a popular place to retire with the quality of lifestyle, good health care facilities, diversity of housing choice and availability of affordable homes, attracting retirees from throughout south west Queensland and beyond.
Downsizing to unit/villa living and detached housing on small lots appears to be a popular choice for Toowoomba retirees, however there is also evidence of relocating boomers “downsizing” from large western rural holdings to smaller 10 to 20 acre rural residential properties in the outer areas of Toowoomba.
The smaller urban properties are attractive to empty nesters looking to downsize for maintenance and convenience reasons. Retirement villages are also gaining in popularity, with a large number of modern complexes currently under construction and in planning throughout Toowoomba, including a number of multi-level complexes including Seachange at Glenvale, Infinate Aged Care in Mount Lofty and a proposed complex on the Middle Ridge Golf Club. Staying put in the family home also appears to be a popular option for retirees as these are often located in established desirable residential locations.
Although Toowoomba is becoming a popular destination for retirees, many are also fleeing to the more traditional coastal locations in Queensland such as the Sunshine Coast, Gold Coast and Fraser Coast, where housing is still reasonably affordable and a beach lifestyle becomes a major incentive.
Downsizers are creating opportunities for Toowoomba first and second home owners too, with the former being attracted to smaller older dwellings in established areas close to the CBD, including the City, South Toowoomba, North Toowoomba and Newtown and the latter being higher value upgraders in more desirable residential areas such as Rangeville, Middle Ridge, East Toowoomba and Mount Lofty. The fringe CBD areas in particular are gentrifying, and are underpinned by a range of council initiatives, including the Railway Parklands Priority Development Area Development Scheme.