Any toowoomba experts here?

G'day, I'm an adelaide investor and I am looking to make my next purchase in toowoomba. After hearing about all the projects the area is set to deliver in the coming years and obviously the jobs that come with them I am keen to get in.

So I'm wondering if anyone here is from toowoomba and invests there OR just knows the market backwards from research and investing could offer me any advice. I live in adelaide and have not been to the area but I'm not afraid to purchase site un seen.

I know all the usual jargon of getting building inspections and so forth but I'm asking for a deeper conversation then that.
Like any particular areas to look for or steer clear, and agents to contact who are helpful, best type of properties set for decent yields and good cg.

I would really appreciate if you could share your knowledge with me. Thanks!
 
I'm here right now with my mate and his wife renovating his new IP.

He knows the area pretty well it seems. I'll ask him to jump on and comment. Probably won't be for a week though till after renos.

:) It seems like a nice town.
 
Hi nhg thanks for the reply! Ah I'm jealous wish I was doing a Reno right now and not away at work!

That would be great if your mate could get in contact with me. I'm basically ready to submit offers just waiting for a property to settle which should be in a week or two.

Could you give me any details about the Reno? I would be very interested to find out anything to do with town like the scope for renovations and how much profit and yield your hoping to add?

From what I can gather from research so far the houses with the highest yield are the low 200's as most rents I have seen dont exceed much over 300 even if the house is worth 300-400k.

Hope to hear back from you soon. Cheers
 
G'day, I'm an adelaide investor and I am looking to make my next purchase in toowoomba. After hearing about all the projects the area is set to deliver in the coming years and obviously the jobs that come with them I am keen to get in.

So I'm wondering if anyone here is from toowoomba and invests there OR just knows the market backwards from research and investing could offer me any advice. I live in adelaide and have not been to the area but I'm not afraid to purchase site un seen.

I know all the usual jargon of getting building inspections and so forth but I'm asking for a deeper conversation then that.
Like any particular areas to look for or steer clear, and agents to contact who are helpful, best type of properties set for decent yields and good cg.

I would really appreciate if you could share your knowledge with me. Thanks!

As far as yields go you are correct that 220 -280k market seems the best value. Areas to look at in this price range would include Wilsonton, Newtown and Harristown which will have older houses for a decent price but are currently experiencing a bit of modernisation. I would stay away from units in Toowoomba as the market is fairly weak in demand for these.

Hope this helps.
 
I was talking too a gentleman the other night while waiting for my daughter and her mates to come out from the one direction concert in Brisbane who happened to be a longterm property investor in Toowoomba and he was telling me they are building a new airport up there with a carpark bigger the Brisbanes Airport to cater as a cental base for flyout-in short term workers fot the NT-WA-QLD,also he was saying all the properties he controls were doing very well in "CG" plus higher rentals prices and it did not matter on what part of the town..imho..


http://www.couriermail.com.au/news/...ort-in-toowoomba/story-e6freoof-1226594237298
 
Toowoomba

Hiya, I've been looking myself. I've been told that area's like Harlaxton, Wilsonton and Wilsonton Heights especially whats known as "The Wine Estate" are not favoured by renters and that they will generally look for somewhere else first to rent. Lower Socio Economic area's. I've been drawn to Mount Lofty, Tree lined streets, some character homes.
Cheers Bullfrog
 
Hiya, I've been looking myself. I've been told that area's like Harlaxton, Wilsonton and Wilsonton Heights especially whats known as "The Wine Estate" are not favoured by renters and that they will generally look for somewhere else first to rent. Lower Socio Economic area's. I've been drawn to Mount Lofty, Tree lined streets, some character homes.
Cheers Bullfrog

I think you'll find that your agent will be able to move your property without even putting it on the net, demand is that strong ATM
 
I have one in Newtown which became vacant. Let in 3 days to a professional couple,
They were then offered a job with a house after 3 weeks, wanted to break the lease, and it was let again with a 2 day gap. Demand is definitely there
 
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Hiya, I've been looking myself. I've been told that area's like Harlaxton, Wilsonton and Wilsonton Heights especially whats known as "The Wine Estate" are not favoured by renters and that they will generally look for somewhere else first to rent. Lower Socio Economic area's. I've been drawn to Mount Lofty, Tree lined streets, some character homes.
Cheers Bullfrog

The Wine Estate is a no go zone however Wilsonton Heights is all very new and modern. Wilsonton / Rockville is currently being gentrified a bit with a large number of young families buying in the area. Harlxton should probably be avoided however prices are cheap and Toowoomba North is currently going through large development with a large Masters and new shopping centre all under planning there.
 
I lived in a duplex in Wind Drive when I was an apprentice a "few" years ago :rolleyes:
It was not a bad place to live and looks a lot better these days with the trees growing a lot etc. In saying that I was not an ideal tenant so probably fitted in quite well over there :eek:
 
Hello all,

I live in Wilsonton and am finding it OK. Yes, there is an element of lower socio economic, but it certainly doesn't have the 'feel' of it. The suburbs on the west side are unique in that Wilsonton is generally OK, yet one street away, Plonk Estate (Wilsonton Heights) begins and the council strips begin not to be mowed. So it's a mixed bag. It's the same on the other side of the city and, in fact, also within the CBD.

Is there value? Definitely. Rental demand? Seems strong enough.
Long term growth? Toowoomba has always been a slow and steady Brisbane follower, so unless something is happening down the range, Toowoomba will continue to plug along. The new airport is the white elephant.
 
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