Hotspot in Focus: The ‘Garden City’ (QLD)
Toowoomba (nicknamed ‘The Garden City’) is a city in the Darling Downs region in the Australian state of Queensland. It is located 125 km west of Queensland’s capital city, Brisbane. It has developed into a regional centre for business and government services. It is also referred to as the capital of the Darling Downs. We take a look at why Toowoomba is considered a hotspot for aspiring first home buyers.
TOOWOOMBA AT A GLANCE
DISTANCE TO BRISBANE CBD
Toowoomba Regional Council
Toowoomba Grammer School, Toowoomba East State School, TACAPS
Bus, Car, Train
MEDIAN DWELLING PRICE
Disclaimer: This article is general nature and should not be relied upon. FHBA is not qualified or licensed to recommend locations for your first home. If you do not know where you want to buy your first home you should speak to a licensed professional.
Why the Toowoomba region?
TOOWOOMBA has been identified as an affordable first home buyer hotspot by many property experts. It is one of the most liveable cities in Australia, not many regional towns can rival the education system, health services, natural beauty and thriving economy. There are various reasons why Toowoomba is considered to be a first home buyer hotspot, some of these include:
Variety & Lifestyle – Toowoomba Region is made up of one city (i.e. Toowoomba) and many towns and localities within the city. Each area has its own unique history and stunning landscapes. It is no surprise that Toowoomba is home to over 150 parks and gardens – after all, it is known as the ‘City of Gardens’.
Toowoomba offers the best of both worlds, a relaxed lifestyle and easy access to Brisbane and the Gold and Sunshine Coasts. Some of the attractions include:
- Lush green hills;
- Award-winning wineries
- Farm Stays
- Fireplaces in friendly country villages
Toowoomba has been ranked as one of Australias most family-friendly cities and with a house price-to-income ratio lower than most of South East Qld, it is also a highly affordable place to live. Private and public hospitals are undergoing redevelopment to offer modern facilities and provide increased capacity
Transport & Location – Bus services exist in many parts of the region. Most of these services are provided by private companies on behalf of the QLD State Government.
Toowoomba is located within 90km’s of the Ipswich CBD and approximately 125km from the Brisbane CBD. The quickest way to Brisbane CBD using public transport is to travel via a bus, which takes approximately 1 hr and 45 mins. For those looking to travel by car, it takes approximately 1 hr and 30 mins via the Warrego Highway.
Toowoomba also has a train station and rail links, however, these connect residents to areas further West of Toowoomba, rather than providing direct train links to Brisbane CBD.
Schools – The Toowoomba region offers several council owned child care centres as well as private child care centres, giving young families a lot of choices. Toowoomba is widely regarded as having some of the best schools in Queensland. Some of the more popular schools in the area include:
- Toowoomba Anglican College and Preparatory School (TACAPS)
- St Mary’s College
- Toowoomba Grammer School
No surprise why Toowoomba is considered as the ‘Garden City’
The Toowoomba economy
The Toowoomba Region has transformed into a diverse economy, offering a range of business, investment and employment
opportunities. It is Queensland’s second largest regional city with over 74,000 workers, 3.3% of the overall Queensland workforce. The region enjoys one of the best unemployment rates in the state with an unemployment rate in the low 4% range.
There were 75,518 jobs located in the Toowoomba in the year ending June 2016.
The Toowoomba region has experienced solid economic growth over the past decade, growing by around 3.5% per year. This level of growth has been faster than the state’s average growth rate of 3.1%.
Health Care and Social Assistance is the largest employer in Toowoomba Region, employing over 12,000 people. The Toowoomba Region is home to three major hospitals, including:
- St Vincent’s Private Hospital
- Toowoomba Hospital
- St Andrew’s Toowoomba Hospital.
Toowoomba first home buyer housing
Recently, Toowoomba was voted the 5th most beautiful place in Australia by Expedia further recognising its liveability status, as typified by the unemployment rate mentioned above.
According to APM Data, the median prices in Toowoomba are as follows (as of October 2017):
Toowoomba Houses – $350,000
Toowoomba Units – $308,300
The median prices mentioned above shows the region is a very affordable place to live for aspiring first home buyers. First home buyers are able to take advantage of QLD FHOG of $20,000 and stamp duty exemptions for those looking to buy established housing.
Smaller urban areas in the townships of Clifton, Crows Nest, Goombungee, Millmerran, Oakey, Pittsworth and Yarraman. Median house prices in these locations are still in the sub $300k range.
A boom in the construction industry has also resulted in a greater number of house & land packages becoming available in the area and allowing first home buyers take advantage of the $20,000 FHOG in QLD and affordable prices in the area.
Looking to determine if you have saved enough for your first home in one of the above suburbs? Click here to use our Eligibility Estimator.
How can FHBA help secure your first home in Toowoomba?
Buying your first home can be quite tricky. That’s why at FHBA we are with you every step of the way, even as far as helping you move into your first home!
First Home Loan
Your FHBA Coach will explain all the steps, determine your borrowing capacity, offer suitable loan options, compile your loan application paperwork and even assist you with applications for the FHOG and Stamp Duty concessions in QLD. Click here to get pre-approved with a no-charge assessment!
FHOG eligible brand new home
We have access to a range of brand new property opportunities for aspiring first home buyers looking to buy in the Toowoomba region and surrounding areas (all with FHOG eligibility + the FHBA 50 Rebate!). Be sure to complete the form at the bottom of this page if you are interested and want to know more about the exciting apartments, townhouses and house & land packages we have access to. Alternatively, search our large range of properties by clicking here.
FHBA assists first home buyers looking to buy an established home – regardless of budget, property type, or property location, we will not rest until you have successfully settled on a property you have chosen & you have comfortably moved into your first home.
If you are looking for more information or if you have any questions, please complete the form below to speak with an FHBA Coach.
First Home Buyers Australia