Toowoomba Market Update: Leading Regional Price Growth
Nine of the country’s leading growth suburbs are located right here in Toowoomba.
Let’s dive into the numbers and understand what’s driving this impressive market momentum.
Property Price Surge in Toowoomba Suburbs
Middle Ridge has taken the spotlight as the best-performing suburb in regional Australia, with prices climbing by $101,238 over the past year, up to 30 August 2024. Close behind is Toowoomba West, where property values increased by $100,788. Below is a breakdown of the top nine suburbs, highlighting both dollar and percentage growth:
Insights from Toowoomba’s Growth
This growth isn’t isolated to one part of the city or one type of property. From premium areas like Middle Ridge to more affordable suburbs like Wilsonton, demand is strong across Toowoomba, illustrating both the city’s appeal and its diversity.
Interestingly, while higher-end suburbs saw substantial dollar gains, some of Toowoomba’s more affordable areas witnessed the largest percentage increases. Wilsonton, with a median value under $550,000, saw almost 17% growth, underscoring the demand for affordable options and the breadth of opportunities within our market.
At the beginning of 2024, we identified key suburbs to watch, including Middle Ridge, Highfields, and Rangeville—all of which now rank among Australia’s top growth suburbs.
The Long-Term Growth Story
Toowoomba’s market strength isn’t a one-off trend. CoreLogic data reveals a 67.5% increase in median property values over recent years. A home valued at $400,000 in 2019 could now be worth around $670,000. This growth is a testament to Toowoomba’s expanding appeal, with steady development, demand from metropolitan buyers, and an excellent quality of life making the city a top choice for relocators, particularly from Brisbane.
What to Expect in 2025
Despite the recent price surge, Toowoomba’s market shows no sign of cooling. Buyer demand remains high, with limited stock adding to the competitive landscape. Moreover, as inflation stabilises and with potential interest rate cuts on the horizon, borrowing capacity may increase, further fuelling the market in 2025.
Ready to Explore Toowoomba’s Property Market?
With 2024’s remarkable growth and a promising outlook for 2025, now could be an ideal time to enter or upgrade within Toowoomba’s market. If you’re considering buying or selling, reach out to us to discuss your options and make the most of this thriving market.
