Toowoomba developer Rob Weymouth says unprecented demand for land behind success of Middle Ridge subdivision
Toowoomba’s property market is booming right now, so much so that one developer has already sold his latest estate before it even comes to market. He identifies the key factors in this spike.
Development
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Rob Weymouth has completely sold his latest subdivision in Middle Ridge, without putting a single lot on the market.
The Toowoomba developer said demand for quality land had reached unprecedented levels in recent months, with the industry struggling to keep up with interest.
His comments come after his 41-lot subdivision on Dallang Street was approved by the council, with construction expected to start in early 2022.
As part of the project, Mr Weymouth will retain the home and garden in the southwest corner for he and his wife Cathy to live in.
Mr Weymouth said he had already received more than 60 people register their interest to buy a plot.
“I’ve got people wanting blocks, so there’s a huge demand out there,” he said.
“They’ll be all gone soon, before I’ve even put them up for sale.
“The demand at the moment is something I’ve never seen in all my years — it’s unprecedented.”
Mr Weymouth said demand had been driven by the continued effects of the Federal Government’s wildly-popular HomeBuilder grant scheme, as well as the quality of the land.
“There’s no available land in Middle Ridge right now, but it’s a good area so your values hold up,” he said.
Mr Weymouth said he had also completely sold out the third stage of his Westbrook subdivision The Orchard, which was made up of 33 lots.
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