March 2018 – Toowoomba LGA Vacant Land Report

9 March, 2018 / Vanessa Rader

The Toowoomba LGA residential land market has shown mixed results in the 12 months to June 2017. Median values for vacant land have continued their upward momentum with the average land value reaching a new high at $179,500. Sales rates have also improved for both vacant land and house & land packages with these packages showing some minor reduction in median values.

Lot approvals have reduced substantially by 89.41% to represent 239 due to the limited number of larger lot project approvals.

Toowoomba provides 3,659ha of land suitable for residential development, with potential to deliver up to 20,000 dwellings. While this location is situated to the west of the growth corridor of Brisbane, demand has been easing and while there is scope for future residential land development opportunities these will be limited until more traditional South East Queensland land is absorbed.

 

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