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How the Ipswich region stacks up posted on the 27th February 2015

Ipswich Granny Flats, your Granny Flat experts bring to you another national story item, this time from The Property Observer : all about our great Ipswich region! Read on …

The Property Observer
Simon Pressley
16 February 2015

How the Ipswich region stacks up:

Ipswich has one of the fastest growing populations in Australia over the last decade.

When a few marketing jazz words are combined with a low entry price and above-average rental yields, it’s never been difficult for the so-called property guru to attract property investors to Ipswich. But does the region really stack up?

With its vast amounts of developable, cheap land available, Ipswich plays a key role in the state government’s strategy to try and direct population growth away from the coast.

Stats2

The impact of a relatively large volume of sales of new properties in a developing region creates a distortion between the data for changes in median property values and the real change in property values.

As the graphic below illustrates, dwelling supply and population growth have kept pace with each other. In spite of the regular hotspot rhetoric that Ipswich cops from time to time, its property market performance has in fact been quite underwhelming.

Ipswich_SupplyDemand_2006-2014

With a traditional blue-collar demographic, successive state governments and the Ipswich City Council have had to work hard to create sufficient jobs for its growing population.

The award-winning Springfield masterplanned community has been developed over the last decade as a satellite city – Brisbane’s version of Parramatta.

Ipswich_GreenfieldMap

Already with a new hospital, business park, and railway line, Springfield currently has several good projects in the pipeline. These include a $50 million expansion of the University of Southern Queensland, $70 million headquarters for GE, $80 million Mater hospital, $100 million Brookwater resort and plans to further extend the Orion shopping centre.

The existing Amberley RAAF base has also been spoken about as an anchor tenant for a potential aeronautical precinct.

Investors could do worse than Ipswich, although it is far from our first preference. With so much land flagged for development, expect to see significant new supply, mostly concentrated around Springfield, Ripley, and Redbank Plains.

There is currently in the vicinity of $275 million in house and land packages currently under construction. The Springfield Land Corporation has also just announced a proposal to develop 10,000 new apartments.

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From a local real estate point of view, land is becoming increasingly scarce in the area. Everyone wants to buy land in Ipswich to build a new house + granny flat, and the property spruikers and wealth creation groups are out there in full force!

And good available land is not so cheap anymore – have a look to find a flat level block that’s not compromised in some way, that is cheap. You’ll be hard pushed to find one – supply and demand? The demand is here, but supply is becoming increasingly short.

If you own an existing property in the Ipswich area which may have sub division potential, give us a call – we’d love to talk to you.

We have builders and active investors that are looking for urban in-fill lots NOW!

Call : Sonia 0403 309 136

Ipswich Granny Flats

Written by Sonia Woolley

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