Toowoomba tops property analyst Terry Ryder’s new hotspot report for regional migration

A new report by a property analyst says Toowoomba has found itself in a “rare” position as a regional centre of choice for Australians trying to escape metropolitan areas.

Toowoomba will see a huge influx of people moving to the city from Sydney and Melbourne in the coming years, which is likely to put upward pressure on housing prices and rents.

That’s according to a new report by property analyst Terry Ryder, who says the city has found itself in a “rare” position as a regional centre of choice for Australians trying to escape metropolitan areas.

Toowoomba topped the Hotspotting report Exodus To Affordable Lifestyle, ahead of centres like Bundaberg, the Hunter Valley and Ipswich.

Mr Ryder, who in November identified the Garden City as a boom region due to its $13b infrastructure boom, said Toowoomba benefited from being attractive to both businesses and potential residents.

“I’d say that the two biggest influences are the affordable lifestyle factor but also the infrastructure-led economic recovery,” he said.

“It’s viable for big businesses that might have big warehousing needs and want affordable prices, because Toowoomba has the Wellcamp Airport and it will have the Inland Rail.

“It can offer the linkages that big businesses want.

“It’s quite rare for a location to be so attractive to commercial entities but also attractive for its lifestyle opportunities.”

Mr Ryder said the upward pressure on house prices and rents in Toowoomba would likely continue as more people made the move.

“We’re going to see prices rising, and that might be an issue for some young buyers,” he said.

“One thing that’s going to get worse before it gets better is the rental shortage — it’s becoming a real issue for people.

“Toowoomba needs to have its act together in terms of coping with the growth that’s already there.”

To access the report, head to www.hotspotting.com.au.

Originally published as Toowoomba tops property analyst Terry Ryder’s new hotspot report for regional migration