Property Valuation – Toowoomba
In many ways property values within a major city like Toowoomba are determined by the ways in which the amenities and opportunities that the city brings to its residents positively affect their lives. For well-known factors such as the economy, crime rates, educational and employment opportunities this makes a lot of sense, however, for many factors like the events and festivals that a city is host to do not make as clear a connection.
The city of Toowoomba is a city that is home to over 113,000 people, and welcomes thousands of tourists every year. The city, known for the plethora of educational and learning opportunities that it is home to, has also become home to one of the most popular, and beloved events throughout Australia.
The Carnival of Flowers
The city of Toowoomba is known across the country for its annual Carnival of Flowers. The Carnival of Flowers is held each year in September, and many of the city’s major parks and gardens are prepared for the carnival, including a parade of flower floats, as well as an important home garden competition. People are brought by buses from all across Australia, with many residents of Brisbane arriving via a chartered antique steam or diesel train.
In 1953 the Carnival of Flowers was the topic of a movie that was produced by the Queensland Minister for Lands and Irrigation. The Carnival of Flowers depicts the floral parade, the home gardens competition and the crowning of the Floral Queen and is considered to be an excellent and insightful portrait of life in Queensland in the 1950’s.
Now, at this point, you might be wondering what the connection is between the property values in Toowoomba and this beloved cultural festival. The Carnival of Flowers is one of the most well-known festivals not just in Queensland, but in Australia, because of its popularity, thousands of tourists visit the city every year to take part in the festival. This brings a large boost to the tourism industry, which unlike other industries has a direct ripple effect throughout other industries in the city. Because of the boost to the local economy, and the tourism industry that the Carnival of flowers brings each year, more, and more jobs end up being created. As state before, one of the unique things about the tourism industry is that so many other industries benefit from it. Because of the increase in tourists, additional jobs are created in industries such as law enforcement, education, agriculture, retail, sales, hotel administration, public administration, communications and more.
It does not matter whether you live in Toowoomba or another major city, the creation of new and additional job opportunities is a huge feature for attracting new residents, and increasing property values. As the demand for real estate increases alongside the newly created jobs, property values in Toowoomba continue to rise as well. The reason being is fairly simple, when something becomes in demand, and there is a limited supply, it is worth more. As more and more people look to move to Toowoomba and other similar cities with newly developed job opportunities, the local property values increase.
When you are considering selling your home there are a lot of factors to keep in mind, and although they might not always make immediate sense to you, looking at as many factors as you can that relate to the quality of life that you have in the city in which you live is a great way to get an idea of what your real estate’s property value is really worth, whether in Toowoomba or elsewhere.