Investing in property in Brisbane West
Centrally located in a booming region of South East Queensland, Ipswich is the state’s oldest provincial city and a major population hub located 40km west of Brisbane. The city has experienced major transformation and growth in recent years and is among the top three largest and fastest-growing regions in all of Queensland. This growth in residential, industrial, and commercial developments provides vast opportunities for employment, business, and investors alike.
Brisbane West Property Investment Opportunities at a Glance
Property Market Highlights
- Rental demand at an all-time high.
- One of the lowest vacancy rates in QLD.
- Property prices have recorded steady growth in the past 12 -18 months.
- Located in a major SE QLD growth corridor.
Infrastructure & Development Highlights
- $850,000+ allocated in the 2022-2023 Budget to undertake continued work on a new Planning Scheme and the Local Government Infrastructure Plan (LGIP).
- New Hospital: $177 million hospital coming to Springfield, creating 174 new beds and is projected to create 700+ jobs during construction.
- New Schools: New schools coming to Ripley with hopes to open for students in Term 1, 2025.
- New Housing: More housing developments are frequently appearing in Ipswich in suburbs such as Springfield, Ripley, Deebing Heights, and Walloon.
Economic Growth Highlights
- Key Industries:
- Sheep and dairy farms
- Wineries
- Tourism
- Population is projected to almost double to 435,000 residents across the next ten years.
- Unemployment in June 2022 was 6.3%, down from 9.4% in 2021.
Ipswich Location & Lifestyle
With a population of just over 233,000 in 2021, Ipswich is a family-friendly city with an affordable cost of living and a comfortable climate. The city is located in a sought-after growth corridor with easy access to both Sunshine Coast and Gold Coast for commuters. With a rich history of agriculture and heritage, Ipswich offers beautiful sites in form of public parks and gardens, and bustling restaurants and pubs, for locals and visitors alike.
Ipswich Property Market
Rental demand is at an all-time high in the Ipswich area. The vacancy rate reached as low as 0.6% earlier this year (down from 2.6% – 3.5%), and with rental yields are increasing due to the increased demand. The median rental price has risen from $300 per week in 2018 to $390 per week in 2022. The average rental yield currently sits at 4%.
The value of investment properties in the area is pushed to new heights because of the continuous undersupply of dwellings to purchase or rent, with the median sale price in the last 12 months reaching $550,000.
Ipswich Infrastructure & Development
The population of Ipswich is projected to almost double to 435,000 residents across the next ten years, and the city is consistently expanding in terms of infrastructure to accommodate this growth. There is over $850,000 allocated in the Ipswich City Council 2022-2023 Budget to undertake continued work on a new Planning Scheme and the Local Government Infrastructure Plan (LGIP).
Highlights:
- New Hospital: There is a $177 million hospital coming to Springfield creating 174 new beds to accommodate the rapid population growth in what is one of the largest growth corridors in Ipswich. The hospital is set to be completed in late 2024 and is projected to create more than 700 jobs during construction.
- New Schools: There is also a new school coming to Ripley which is another large growth area for the city. The new state school is set to commence construction in 2024, with hopes to open for students in Term 1, 2025.
- New Housing: More housing developments are frequently appearing in Ipswich in suburbs such as Springfield, Ripley, Deebing Heights, and Walloon.
Ipswich Economy
Home to two universities and a wide choice of private and state government schools (with more under construction), education plays an important role in the local Ipswich economy. It is predicted that other already established sectors including financial services, public administration, and freight and logistics, will also continue to be prominent contributors to the Ipswich economy. In addition, tourism, hospitality, culture, energy, and ICT are industries anticipated to further drive economic expansion over the next decade and beyond.
Invest in Ipswich
Duplexes and Dual Occupancy dwellings are very popular options in the Ipswich region. They allow the investor to receive multiple rental returns on one block of land. Stroud Homes Ipswich has a wide range of properties ideal for investors looking for opportunities in this region.
Check out our selection of House and land Packages designed specifically with you the Ipswich property investor in mind.