As a top Brisbane buyers agent, we’ve always got our finger on the pulse of the Brisbane property market. Check out what’s happening in Toowong.
A development application has been submitted for a mixed-use development at Toowong that would form a ‘Toowong Town Centre’.
The $450 million development planned for the 8,982sq m corner site at 23-51 High Street, 74 Jephson Street and 26-30 Sherwood Road in Toowong was is reportedly inspired by The Grove shopping centre in Los Angeles. It includes an open-air five-storey plaza, with a theatre, with a 20-storey office tower and 25-storey residential tower.
The site currently houses a Woolworths and is across the road from the Toowong Village shopping centre and train station.
If approved, the development is planned to be completed by 2023.
While Toowong already has significant amenity, much of it is older. This new and fresh development, if it goes ahead, would significantly enhance the inner city suburb’s appeal and help to reinvigorate and gentrify it.
Market Snapshot – Toowong
| Median house price | Average annual price growth | Houses sold over past 12 months | Median Unit price | Average annual price growth | Units sold over the past 12 months | Demand level | Population | Median age of residents | % of renters |
| $913,400 | 3.1% | 81 | $432,500 | 0.15% | 167 | High | 10,830 | 29 | 53.5% |
Source: Realestate.com.au, CoreLogic, ABS 2016 Census
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