The suburb of Newtown, is just a hop, skip and a jump from Toowoomba’s CBD. Like many areas of Toowoomba, it boasts leafy green parks, quiet tree lined streets, grand old renovated character homes and extra large blocks of land desired by growing families.
But what sets Newtown apart, is the capital growth the suburb has achieved over the last 2 years. Averaging 10% capital growth over the last 2 years, more than doubling the growth rate of some Toowoomba suburbs, Newtown is poised for continued growth due to a number of factors:
Affordability – the medium house price in Newtown is just $325k, compared with Toowoomba’s average of $454k, exposing the suburb to a higher number of buyers under the $350k mark.
Location to Schools – there are 3 (of the best) private high schools, and 2 primary schools in Newtown, making the suburb one of the most sought after for families.
Close proximity to Clifford Gardens Shopping Centre and Grand Central. Both these centres have anchor tenants of Coles, Woolworths, Audi, McDonalds, Big W, Target plus speciality shops. Zarrafas, Pizza Capers and fitness franchises have also set up shop in Newtown because of the volume of people who pass through the suburb.
Opportunity for value adding for investors – there are many large parcels of land, where buyers can battle-axe a larger block and renovate the existing home, or build duplexes. The opportunity for renovators to add value to older homes is also a good way of creating quick equity in property.
One of the key reasons we love Newtown is we live here, our children go to school here, and we are one of the 9500 residents that enjoy what Newtown has to offer. If you are looking to enter the Newtown marketplace, or what like to know what your Newtown home is worth, we would love to hear from you. Call us on 07 4632 2949.