Toowoomba property: Home driving big short-term capital gains for owners across city

Believe it or not, this property was bought late last year and then re-sold a month later for $145,000 more. Here are the properties being flipped quickly for massive profits. See our list here:

Toowoomba homes being sold for big profits within 2.5 years.

It’s no secret that Toowoomba’s property market is booming right now, as plenty of locals and interstate residents look to make the Garden City home following the Covid-19 lockdowns of 2020 and 2021.

But incredible data from some of Toowoomba’s biggest real estate agencies has revealed amazing short-term capital gains made on residential properties all across the city.

In some cases, homes are being bought for one price, before being flipped just a few months later for tens of thousands in profits. In many cases, little or no improvements had been made to the property.

One such example on Bridge Street in East Toowoomba, sold by Andrew Duncombe at RealWay Property Partners, was purchased in October last year for $420,000 before being sold a month later for $565,000 — a $145,000 profit.

Snow Real Estate’s Brendan Mayles said the regional migration phenomenon had resulted in greater demand than what could be supplied in the short-term.

“In some suburbs at the moment we are finding there are more out-of-area buyers — regional, Brisbane, interstate — than local buyers,” he said.

“This is creating some fierce competition when quality homes in good locations come available.

“It’s also not only people looking for a home to live but we have a very active pool of investors looking to secure real estate in Toowoomba, taking advantage of the low interest rates and good returns from our rental market.”

Here are 20 recent property sales that were flipped within 2.5 years for serious profit:

153 STEPHEN STREET, HARRISTOWN

Bought: August 2020, $225,400

Sold: August 2021, $295,500

Profit: $70,100

Agent: Ben Leisch, Ray White Toowoomba

153 Stephen Street in Harristown was sold in August 2020 for $225,400, then sold through Ray White Toowoomba in August 2021 for $295,500.

5 OSPREY COURT, RANGEVILLE

Bought: January 2021, $579,000

Sold: March 2022, $750,000

Profit: $171,000

Agent: Jacqui Walker, Re/Max Success

5 Osprey Court in Rangeville was sold for $579,000 in January 2021, then sold through Jacqui Walker at Re/Max Success in March 2022 for $750,000.

33 RICHMOND DRIVE, WILSONTON

Bought: September 2020, $305,000

Sold: January 2022, $402,000

Profit: $97,000

Agent: Jacqui Walker, Re/Max Success

33 Richmond Drive in Wilsonton was sold for $305,000 in September 2020, then sold through Jacqui Walker at Re/Max Success in Jan 2022 for $402,000.

14 COURTNEY CLOSE, RANGEVILLE

Bought: October 2019, $1.3m

Sold: December 2021, $1.6m

Profit: $300,000

Agent: Dominic Ryan and Louise Bizzell, Colliers International

14 Courtney Close in Rangeville sold in October 2019 for $1.3m, before selling through Colliers International in December 2021 for $1.6m.

425 ALDERLEY STREET, HARRISTOWN

Bought: June 2019, $339,000

Sold: February 2022, $575,000

Profit: $236,000

Agent: Jacqui Walker, Re/Max Success

425 Alderley Street in Harristown sold for $339,000 in June 2019, then sold through Jacqui Walker at Re/Max Success in February 2022 for $575,000.

65 WINE DRIVE, WILSONTON HEIGHTS

Bought: April 2019, $295,000

Sold: September 2021, $360,000

Profit: $65,000

Agent: Ben Barrowclift, LJ Hooker Toowoomba

65 Wine Drive in Wilsonton Heights was sold for $295,000 in April 2019, then Sold through LJ Hooker Toowoomba for $360,000 in September 2021.

20 HILLVIEW AVENUE, NEWTOWN

Bought: December 2020, $267,000

Sold: December 2021, $370,000

Profit: $103,000

Agent: Ben Barrowclift, LJ Hooker

20 Hillview Ave in Newtown was sold for $267,000 in December 2020, then sold through LJ Hooker Toowoomba for $370,00 in December 2021.

60 GOOMBUNGEE ROAD, MERINGANDAN WEST

Bought: January 2019, $406,000

Sold: September 2021, $510,000

Profit: $104,000

Agent: Jacqui Walker, Re/Max Success

60 Goombungee Road in Meringandan West was sold in January 2019 for $406,000, then sold through Jacqui Walker at Re/Max Success in September 2021 for $510,000.

12 GIPPS STREET, DRAYTON

Bought: November 2019, $349,000

Sold: December 2021, $463,000

Profit: $114,000

Agent: Jacqui Walker, Re/Max Success

12 Gipps Street in Drayton was sold in November 2019 for $349,000, then sold through Jacqui Walker at Re/Max Success in December 2021 for $463,000.

18 ELEANOR STREET, EAST TOOWOOMBA

Bought: January 2020, $720,000

Sold: October 2021, $910,000

Profit: $190,000

Agent: Dominic Ryan and Louise Bizzell, Colliers International

18 Eleanor Street in East Toowoomba sold in January 2020 for $720,000, then sold through Colliers International in October 2021 for $910,000.

25 LINORA DRIVE, GOWRIE MOUNTAIN

Bought: May 2019, $448,000

Sold: February 2022, $825,000

Profit: $377,000

Agent: Andrew Duncombe, Realway Property Partners

25 Linora Drive in Gowrie Mountain sold through Realway Property Partners first in May 2019 for $448,000 then in February 2022 for $825,000.

33 WESTVIEW DRIVE, MOUNT KYNOCH

Bought: November 2020, $422,000

Sold: January 2022, $606,000

Profit: $184,000

Agent: Wade Lockrey, Ray White Toowoomba

33 Westview Drive in Mount Kynoch was sold in November 2020 for $422,000, then sold through Ray White Toowoomba in January 2022 for $606,000.

21 CUTTABURRA CRESCENT, GLENVALE

Bought: September 2019, $370,000

Sold: December 2021, $480,000

Profit: $110,000

Agent: Cooper Watson, Realway Property Partners

21 Cuttaburra Crescent sold through Realway Property Partners first in September 2019 for $370,000 then in December 2021 for $480,000.

2/2 RENSHAW CRESCENT, KEARNEYS SPRING

Bought: December 2020, $470,000

Sold: March 2022, $615,000

Profit: $145,000

Agent: Cooper Watson, Realway Property Partners

2/2 Renshaw Crescent Kearneys Spring sold through Realway Property Partners first in December 2020 for $470,000, then in March 2022 for $615,000.

52A BRIDGE STREET, EAST TOOWOOMBA

Bought: October 2021, $420,000

Sold: November 2021, $565,000

Profit: $145,000

Agent: Andrew Duncombe, Realway Property Partners

52A Bridge Street in East Toowoomba sold through Realway Property Partners in October 2021 for $420,000 then in November 2021 for $565,000.

3 LINUS STREET, HIGHFIELDS

Bought: August 2020, $175,500

Sold: February 2022, $295,000

Profit: $119,500

Agent: Cooper Watson, Realway Property Partners

3 Linus Street in Highfields sold through Realway Property Partners first in August 2020 for $172,500, then in February 2022 for $295,000.

16 LOCH STREET, CENTENARY HEIGHTS

Bought: July 2019, $452,000

Sold: December 2021, $602,500

Profit: $150,500

Agent: Brendan Mayles, Snow Real Estate

16 Loch Street in Centenary Heights was sold for $452,000 in July 2019, then sold through Snow Real Estate for $602,500 in Dec 2021.

5/66 MARY STREET, MOUNT LOFTY

Bought: April 2021, $250,000

Sold: February 2022, $303,000

Profit: $53,000

Agent: Brendan Mayles, Snow Real Estate

5/66 Mary Street in Mount Lofty sold for $250,000 in April 2021, then sold through Snow Real Estate for $303,000 in Feb 2022.

1/6 Bootes Street in Kearneys Spring was sold for $405,000 in June 2019, then sold through Snow Real Estate for $500,000 in Aug 2021.

49 Ipswich Street in East Toowoomba sold for $495,000 in April 2020 then sold through Snow Real Estate in March 2022 for more than $700,000.