TOOWONG

Distance from CBD

4 km Features Proximity to Brisbane City, Toowong rail station Median Price REIQ research shows that median house price in the suburb for the year 2002 was $366,000.

Median Weekly Rent

The median weekly rent paid for a 3-bedroom house in this area in the December 2002 quarter was $265.

The median weekly rent paid for a 2-bedroom unit in this area was $220 for the same period.

Commentary

Toowong continues to benefit greatly from increasing consumer interest in high-profile inner-city properties and demand for boutique business space.

The suburb, less than 4 k m from the CBD, has a strong mix of both commercial and residential property. The suburb has a vibrant and thriving commercial and shopping precinct, as well as a lively night life zone including many good restaurants.

Toowong is often called the ÔNorth SydneyÕ of Brisbane because it combined commercial and professional with top class residential areas.

Toowong has easy access to BrisbaneÕs CBD and boutique shopping areas, such as Park Road in the neighbouring suburb of Milton. Major work has been recently completed on improving a bottleneck in Coronation Drive and renovating the riverside area along that road to better cater for pedestrians and bikes.

The area is only 5 minutes drive from the University of Queensland.

The REIQ expects the Toowong area to continue showing strong capital growth during the next few years as prime residential property becomes increasingly scarce. The suburb features an ever-increasing number of units and some high-rise complexes along the riverfront street of Milton Road.

It is a suburb particularly popular with young professional renters, wanting the ease of access to the City for work and entertainment. Public transport is accessible with both train and bus available. According to the 2001 Census there were 14,117 people living in the suburb with a median age of 29. The median individual income was between $400 and $499 per week. Of all occupied private dwellings 44% were either fully owned or being purchased; 50% were being rented.

http://www.reiq.com.au/buySellRent/community_view.asp?suburb_id=166

From REIQ.