55 Darling Downs suburbs experience house pricing boom

Once quiet parts of Toowoomba are experiencing a major property boom. See our interactive map of which parts are making homeowners money.

More than 50 suburbs across the Darling Downs and Lockyer Valley region have seen an increase in median housing prices, indicating a property boom in once quiet areas.

Coming off the back of a mammoth relocation of interstate residents, the Toowoomba region has seen a jump in the housing market, while renters struggle to secure accommodation.

According to CoreLogic data, 55 suburbs across the Toowoomba region has seen a spike in median house values from May to July 2022.

Leyburn, Oakey and Killarney have seen the largest hikes across the past three months, with a 11.6 per cent, 10.9 per cent and 9.9 per cent increase respectively.

Median house value increases can also be seen across the Garden City, with suburbs experiencing jumps between 3.4 per cent to 5.9 per cent.

East of Toowoomba in the Lockyer Valley, Adare and Gatton have seen an increase in median housing prices, with 8.5 per cent and 5.8 per cent respectively.

“People want to live outside the city,” JLC Real Estate director Laurie Cooper said.

“In Oakey, prices are still quite cheap compared to Toowoomba, and it's a short drive to everything.”

The average house price in Oakey sits at just over $300,000, while just five minutes down the road in Kingsthorpe, the median house price is $200,000 more.

“It’s absolutely astronomical,” Mr Cooper said.

“You can basically demand your own price (in Kingsthorpe) … it won’t be on the market for long.”

Mr Cooper said the Oakey township had seen a boom in property purchases, however were currently limited by quantity rather than quality.

“Vacant blocks of land are getting snapped up really quick … some of them are even going before they hit the market,” he said.

“We can’t keep up demand.”

Suburbs are expected to develop in the coming years, with greater demand as the region’s population grows. Picture: Kevin Farmer

NGU Real Estate sales consultant Matt Hawkins said Toowoomba is quickly transforming into a city housing market, with prices more steep closer to the CBD.

“Toowoomba is getting bigger, and there’s no more land so people are going to (the outskirts), he said.

“Oakey will see an increase, based on the fact it is still fairly cheap.”

Mr Hawkins said the region can expect further suburban developments, with land to the north and south of Toowoomba sure to expand in coming years.

“There’s heaps of land through Geham and Hampton … I think it will go north fairly quickly, especially since its red soil all the way out to Crows Nest.

“It will be developed sooner rather than later.”

Originally published as 55 Darling Downs suburbs experience house pricing boom