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Last Updated: Wednesday, 24 August 2022 13:37

The latest Building & Development Activity Report was published in April 2022

Report highlights

• The Toowoomba region has been a major beneficiary of the nationwide real estate boom, with a surge in house sales
  and building approvals during 2021. A residential construction boom is likely to extend through 2022 and into 2023.

• 1,109 new house approvals were recorded in the Toowoomba Regional Local Government Area during calendar year
  2021. This is the highest annual total on record.

• Despite the rise in house sales volumes and values, Toowoomba housing still remains extremely affordable, with 42%
  of all house sales and 76.6% of all unit sales recorded during 2021 priced below $400,000.

• Commercial property sales, particularly in the Toowoomba CBD surged during 2021. Sales were recorded for all
  commercial property types, including commercial investments, development sites and owner-occupied premises.

• Industrial activity has also been extremely strong across the city. The number of industrial transactions rose a staggering
  78% in 2021.

• Heritage Bank are planning a new campus-style head office in the heart of the Toowoomba CBD. Mutual firm
  Australian Unity has been appointed by the Toowoomba-based bank to find the location, develop plans and lead
  the construction process.

• The Wagner Corporation is developing the Wellcamp Aerospace and Defence Precinct at the Toowoomba Wellcamp
  Airport that will deliver approximately 16,000 square metres in gross floor area comprising of 11,830 square metres
  of assembly factory plus a 562 square metre mezzanine plant room, hangar of 1,267 square metres, paint area of
  1,673 square metres and storage area of 1,135 square metres. The centrepiece of the project will be the Boeing Loyal
  Wingman facility.

• The Toowoomba Railway Parkland Priority Development Area has received a major boost, with funding of $25 million
  secured in March 2022 under the $1.8 billion SEQ City Deal, to develop the Railway Parklands as a catalytic project to
  stimulate further investment, including medium-density housing and visitation.

• The Darling Downs Hospital and Health Service has completed the business case for the construction of a new
  approximately $1.8 billion Toowoomba Hospital and is now waiting for an investment decision. A Ministerial Infrastructure
  Designation approval will facilitate the relocation of the Toowoomba Hospital to the 74 hectare Baillie Henderson Hospital
  site at Cranley.

• The FKG Group are progressing the development of the AATLIS Innovation Industrial Precinct – a state-of-the-art 760
  hectare master-planned, purpose-built industrial precinct, where advanced manufacturing meets digital technology and
  collaborative research.

• Toowoomba is a leading agribusiness hub and includes primary production, large-scale intensive greenhouse
  horticulture, food processing, agtech and research, supported by an extensive logistics infrastructure and
  professional services.

• Toowoomba is an emerging transport and logistics hub of national significance, being connected to major road, rail
  and air transport corridors, providing access to national and international networks. Major projects include: Inland Rail;
  Wellcamp Multi-Modal Precinct; Interlink SQ.

• Toowoomba offers an enviable lifestyle and is supported by world-class health, education, shopping, entertainment,
  research and social infrastructure.

Read the full Building & Development Activity Report 2022