Top 5 Brisbane Hotspots 2019 - January to May 2019 - Property Advisers Australia
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Finding tomorrow’s hot property, TODAY
Top 5
Brisbane Hotspots
2019
January to May 2019
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In a nutshell …. Executive Summary 3 IPSWICH CITY 9 Ipswich suburbs are beginning to deliver good price growth, attracting buyers seeking affordable housing close to major jobs nodes and good infrastructure. REDCLIFFE PENINSULA 21 Redcliffe Peninsula suburbs are starting to rise, as the impact of the new Moreton Bay Rail Link is felt increasingly, alongside the area’s “affordable bayside lifestyle” appeal. BRISBANE NORTHSIDE 29 Middle-ring suburbs in Brisbane’s north are beginning to grow, with the previous oversupply of units absorbed and vacancies lower in most suburbs. MORETON BAY REGION 40 The Caboolture precinct of the Moreton Bay Region LGA is the most active market in the Brisbane metropolitan area, boosted by affordability, infrastructure and jobs nodes. REDLAND CITY 49 The bayside suburbs of Redland City are the forgotten market of the Brisbane metro area, but are quietly emerging with rising sales activity. Hotspotting.com.au Copyright Statement Hotspotting.com.au and/or its related bodies corporate, including Ryder Research Resources Pty Ltd ACN 055 730 339 (“our” or “Hotspotting”) retains the copyright in relation to all of the information contained on the hotspotting.com.au website. All information and material on this website are protected by copyright under the Copyright Act 1968 (Cth). The information and material on this website and within these reports must not be republished, reproduced or redistributed online or offline for any purpose without our express written permission. You are authorised to download and view content for your own personal, non-commercial use but you must not, without the prior written permission of Hotspotting, exploit any of our site materials or report contents for commercial purposes. You acknowledge and agree that you acquire no rights in or title to the information and material contained on this website or within the reports available on the website. TOP 5 BRISBANE HOTSPOTS January to May 2019 2
Executive Summary
IPSWICH CITY REDCLIFFE PENINSULA
Ipswich appeals as a market offering housing The Redcliffe Peninsula finally has the transport link
affordability and ongoing strong demand fueled by that it’s been promised for decades.
population growth and the emergence of major new
jobs nodes. The opening of the $1.2 billion Moreton Bay Rail
Link – providing a rail connection from Kippa-Ring to
Strong population growth boosted by the availability
Petrie and onward to the Brisbane CBD - is a game-
of land for new housing developments has led to
changer for real estate on the Peninsula.
Ipswich being named one of the fastest-growing
real estate markets in Australia. This development The market is responding, with some suburbs
activity is being accompanied by major spending on delivering solid price growth in the past couple of
infrastructure and property investment. years.
Ipswich has shown strong price growth in the past -
prices rose strongly in the five years to 2009, giving The Redcliffe Peninsula may be geographically
Ipswich City the strongest capital growth averages in close to Brisbane, but it has suffered for years from
the Greater Brisbane region. transport links that did not keep pace with demand.
We believe its evolution as a headline hotspot will
Redcliffe was first connected to the ‘mainland’ in
continue in the future. Many suburbs are attractively
1935 by the 2.7km Hornibrook Bridge, which helped
affordable for first-home buyers and investors on a
the establishment of Redcliffe as a seaside suburb.
budget.
It was replaced in 1979 by the concrete Houghton
Big infrastructure projects, including the recent Bridge and then in 2010 the $315 million Ted Smout
announcement of the $5 billion Defence contract to Memorial Bridge was opened.
build armoured vehicles, the $2.8 billion upgrade of
the Ipswich Motorway, the $1.5 billion rail link to the Now direct rail links – promised at state elections
Springfield master-planned community and major for decades without being delivered – have finally
expansions at the Amberley RAAF Base, have added been constructed.
to the area’s appeal because this kind of investment
creates employment and demand for real estate.
TOP 5 BRISBANE HOTSPOTS January to May 2019 3
Executive Summary
BRISBANE NORTHSIDE Construction has begun on some sections of the
$2 billion North East Business Park and with a
Brisbane is enjoying a renewed confidence following new university and a new town plan in prospect –
commencement of the Queens Wharf development including the new suburb of Caboolture West – the
and the announcement of the Cross River Rail – Caboolture-Morayfield area is destined to continue
both mega-projects destined to generate economic absorbing urban growth.
activity and jobs.
This region has been identified by the State
Brisbane Northside can expect to benefit not
Government as a Principal Regional Activity Centre
only from these projects, but also several large
for major growth in the Brisbane area.
commercial, medical and residential developments
that are now under way – for example, the $1.1 This market has several suburbs with rising demand,
billion Herston Quarter venture and the $1.2 billion based on Hotspotting’s quarterly surveys of sales
Racecourse Village project. activity.
Transport infrastructure in Brisbane Northside has
been enhanced by major upgrades in recent years, REDLAND CITY
improving connectivity to the CBD, western suburbs
and the airport, thus reducing commuting time for The municipality of Redland City, a former market
workers. garden region on Brisbane’s bayside, has caught the
Part of the appeal of Brisbane Northside is that its attention of the State Government and is destined
economy is solid, boosted by large employers such for some diverse development.
as hospitals, government departments and the Two precincts within Redland City have been
Queensland University of Technology. marked as Priority Development Areas. These bring
With attractive unit prices in suburbs such as promise of a new marina, revitalised retail, dining
Enoggera, Kelvin Grove and Herston - where there is and entertainment areas, upgraded transport
a high percentage of renters - there are opportunities infrastructure (both marine and road), retirement
for investors to buy affordably and achieve good villages and higher-density residential construction.
rental returns. Investors, however, need to check
vacancy rates, which are high in some unit markets. Population growth and developer incentives are
touted as being just two of the key drivers of future
MORETON BAY REGION activity in Redland City.
The Moreton Bay property market is beginning to gain
Only half an hour from central Brisbane, Redland
momentum, fueled by new infrastructure projects,
City has easy access to the Port of Brisbane, and
affordability and proximity to major Brisbane jobs
to the Brisbane and Gold Coast airports, providing
nodes.
opportunities for trade and export. This precinct is
The Moreton Bay Region, which covers the Brisbane one of Brisbane’s largest jobs nodes.
metropolitan area’s urban sprawl in the northern
growth corridor heading to the Sunshine Coast, The region’s property market appeals for its relative
has tracts of vacant land suitable for residential affordability and recent rises in sales activity are
development as well as good rail and road links to translating into house price growth, which to date
Brisbane to the south and the Sunshine Coast (and has been moderate. Vacancies well below the
beyond) to the north. Brisbane average are a standout feature.
TOP 5 BRISBANE HOTSPOTS January to May 2019 4
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TOP 5 BRISBANE HOTSPOTS January to May 2019 6
Code of Conduct - Hotspotting Our Mission We are in the business of helping people achieve their dreams. Just as home-buyers seek their dream home, investor-buyers also have dreams: to provide for their retirement, to pay for their children’s education or to travel around the world. We’re happiest when customers tell us they achieved their goal and that we helped them get there. Our Business We deliver quality research based on the best information we can find. Our views are totally independent and free of vested interests or outside influences. We are committed to the opinions we express and the recommendations we make. Our Culture Our culture is firmly centred on the delivery of high customer service. We take pride in our teamwork, open and honest communication, mutual respect, personal development and innovation. Feedback from customers is greatly valued. Our People Our people are highly motivated, take responsibility for their own actions and ensure they keep up-to-date with technology and business trends. At all times, our people act with honesty and integrity; they do not accept improper payments, benefits or gains. Terry Ryder, Founder, Hotspotting.com.au TOP 5 BRISBANE HOTSPOTS January to May 2019 7
Introduction
Brisbane Poised To Deliver On The Promise Seen By Analysts
Brisbane looks poised to deliver on its potential Hotspotting analysis of sales activity shows that the
for growth, with many of the factors needed for an Brisbane metropolitan area is quite active, especially
upswing now falling into place. in the more affordable areas such as the Moreton
Bay LGA in the far north - where affordability,
Many have predicted strong growth in the Brisbane
infrastructure and jobs nodes are key factors.
market in recent years by assuming it would follow
trends in Sydney and Melbourne. The Redcliffe Peninsula, which is part of the Moreton
Bay Region LGA, has received particular impetus
But the fundamental difference has been the relative
from the completion of the Moreton Bay Rail Link, a
condition of the underlying economy. The big cities
long-awaited piece of transport infrastructure.
have been boosted by strong economies, population
growth and major infrastructure spending. It continues to evolve as an affordable bayside
precinct with growing elements of gentrification.
Brisbane has been lacking in all those areas - until
now. The middle-ring areas on the northside of Brisbane,
previously hampered by high vacancies caused
There are growing signs of improvement in the key
by extensive unit/townhouse development, have
indicators that drive real estate markets forward.
absorbed most of the over-supply and are becoming
The Queensland economy is showing increasing
increasingly active.
signs of improvement, having led the nation on jobs
creation in the past few years. Logan City, the mirror image of Moreton Bay in the
south of the Greater Brisbane Area, has been a
The resources sector, a big element in the state
market leader in the recent past.
economy, is showing increasing signs of revival.
It has faded a little, although we believe it will
The state is now the national leader on net gains in
continue to attract home-buyers and investors
population from interstate migration, a feature that
because of its cheap housing, excellent transport
has traditionally made Queensland strong but which
links, generally strong infrastructure and strategic
has been lacking in recent years.
location between Brisbane and the Gold Coast.
But potentially the biggest factor is the $50 billion
Ipswich City, the south-western precinct with similar
in spending on Queensland infrastructure over the
qualities to Logan City, is also rising and many
next four years, announced in the State Budget in
suburbs are now delivering good price growth. The
June 2018.
big kicker for Ipswich is the emergence of significant
Infrastructure activity is a major catalyst for jobs nodes, with many big industrial and commercial
economic activity, jobs creation and demand for businesses establishing themselves there because
residential real estate, as we have witnessed in of affordable land and good transport links.
Sydney in recent years.
Redland Bay, which encompasses the bayside
Against this background, the Brisbane market is suburbs in Brisbane’s far east, is also now producing
attracting interest from investors disenchanted by rising sales activity. It attracts buyers because of its
the prices and yields in Sydney and Melbourne. affordable bayside lifestyle.
While the best time to buy in the two biggest cities It is increasingly emerging as an area of economic
has well and truly passed, Brisbane appeals as a development and has good proximity to the Australia
city that offers good value. Its prices are roughly half Trade Coast employment node based around the
those in Sydney and its rental yields are much higher. Port of Brisbane and Brisbane Airport.
Surveys have found Brisbane is the No.1 choice for We wait with interest to see if Brisbane can now
property investors who plan to buy in the near future. deliver on its considerable market potential.
TOP 5 BRISBANE HOTSPOTS January to May 2019 8
IPSWICH CITY
South-West suburbs of Brisbane
Highlights
• $5 billion Defence contract • $1 billion Citiswich project
• $12 billion Springfield community • $2.8 billion motorway upgrade
• $1.5 billion Springfield rail link • Strong economy
• $154 million Orion shopping centre • Multiple jobs nodes
• RAAF Base expansions • Affordable real estate
Suburb - houses Typical prices Suburb- units Typical prices
Bundamba $311,000 Brassall $278,000
Collingwood Park $339,000 Goodna $216,000
Redbank Plains $335,000 Redbank Plains $319,000
Ipswich appeals as a market offering housing affordability and ongoing strong demand
fueled by population growth and the emergence of major new jobs nodes.
Strong population growth boosted by the availability of land for new housing
developments has led to Ipswich being named one of the fastest-growing real estate
markets in Australia. This development activity is being accompanied by major
spending on infrastructure and property investment.
Ipswich has shown strong price growth in the past - prices rose strongly in the five
years to 2009, giving Ipswich City the strongest capital growth averages in the Greater
Brisbane region.
We believe its evolution as a headline hotspot will continue in the future. Many suburbs
are attractively affordable for first-home buyers and investors on a budget.
Big infrastructure projects, including the recent announcement of the $5 billion
Defence contract to build armoured vehicles, the $2.8 billion upgrade of the Ipswich
Motorway, the $1.5 billion rail link to the Springfield master-planned community
and major expansions at the Amberley RAAF Base, have added to the area’s appeal
because this kind of investment creates employment and demand for real estate.
A feature of the growth of Ipswich City is the number of major national companies and
government departments which have moved into the area in recent years.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 9
Economy and Amenities
The emergence of the master-planned communities
of Springfield and Ripley has been the catalyst for
extensive road and rail upgrades, better connecting
Ipswich to central Brisbane. Location
Both the Ipswich Motorway and Warrego Highway • Ipswich CBD is 40km south-west of
have had major upgrades while the metropolitan Brisbane; Goodna is 24km south-west
train line now links to Springfield with two new of Brisbane CBD.
stations - Springfield and Springfield Central. • Ipswich City is located alongside the
- Major Developments Bremer River.
The master-planned community of Springfield, • The Warrego Highway (which joins the
under development since 1992, covers 2,860ha and Brisbane Valley Highway), Cunningham
is projected to be home to 60,000 people in 15 years. Highway and Ipswich Motorway meet
(More detail on this is listed in tables at the end of at the Ipswich suburb of Riverview.
this report.) • LGA: Ipswich City Council.
Ripley Valley will eventually provide 50,000 dwellings
to house around 120,000 people.
Large tracts of undeveloped land, mostly around
Springfield and Redbank Plains, are attracting many
new residential developments.
In recent years, numerous multi-nationals and
government departments have moved to Ipswich.
Some examples are SEQwater, Bendigo and Adelaide Population & Demographics
Bank, GE (General Electric) and Bunnings.
The Redbank Plains Super Centre, home to • Population 2016: 194,000
Target, Coles and Aldi, has received a $140 million • Median age: 32
redevelopment. • 60% of the population is aged under
- Health & Education 40 (he state average is 53%)
The University of Southern Queensland has a $145
• Projected population 2031: 435,000
million campus at Springfield with an enrolment of • Countries of birth: New Zealand
around 2,500 students. (6%), England (5%), Samoa (3%),
Philippines (2%)
The Ipswich Public Hospital is a major hospital with
teaching facilities. The State Government recently
• In the top six Qld municipalities for
population growth. Key growth area in
spent $122 million on upgrading it. the South East Qld Regional Plan
The City has two other new medical facilities: the • Annual population growth of 4.6%
$85 million Springfield Mater Private Hospital and a
$12 million nursing home at in North Ipswich.
- Defence
A $750 million expansion of the Amberley RAAF Employment
Base was completed in January 2015. The complex • Healthcare/social assistance: 13%
at Amberley provides logistical products and
services to the navy, army and air force in South- • Retail: 11%
East Queensland. • Manufacturing: 10%
The 17th Construction Squadron has relocated from • Public admin/safety: 9%
Holsworthy Barracks in Sydney to RAAF Amberley • Construction:
Source: 2016 Census & Ipswich City Council 8%
as part of a $1.1 billion expansion.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 10Around 6,000 personnel work out of the base, a Property Profile
number that is expected to increase to 7,000 by 2020.
The largest airbase in Australia, the RAAF Base BUILDING APPROVALS
Amberley contributes over $500 million to the local
economy annually. Year Houses Units Total
- Industrial FY2018 3,426 375 3,801
Built on the fortunes of coal mining, Ipswich FY2017 2,752 718 3,470
continues to deal in heavy industry. Transport hubs, FY2016 2,155 744 2,899
abattoirs, bulky goods retailers and manufacturers
are strongly represented across the city. Source: ABS
One of the larger industrial parks is the $1 billion
Citiswich industrial park. The 335ha area, previously
known as Bremer Business Park, sits beside the
junction of three highways in the Riverview area, HOME OWNERSHIP
making it strategic as a transport hub.
Major tenants include Caltex, KSB, API, the Reject • 22% own their homes
Shop, Capral Aluminium and IOR Petroleum. • 36% have mortgages
• 40% rent their homes
- Tourism
Source: 2016 Census
Tourism contributes $136 million to the Ipswich
economy each year.
One of the main attractions is the Workshops Rail
Museum which was named the best heritage and Ipswich has been named repeatedly as one of the
cultural tourism experience in the state at the 2014 fastest-growing regions in South East Queensland in
Queensland Tourism Awards. recent years. Strong population growth will continue
The Orion Lagoon, one of the largest outdoor due to the expansion of major projects such as
recreation facilities in Australia, is another attraction. Springfield and the Ripley Valley development.
The lagoon has an expanse of shallow pools, water Property analyst Michael Matusik says that demand
features, parklands and a covered barbecue pavilion for property is outstripping supply. His research
with picnic tables. shows that in the past five years developers have
added 9,000 homes to the Ipswich market, yet
demand was significantly higher at around 10,000.
This has coincided with increased prices.
During the last five years, house prices in Ipswich
have increased 33%, says Ipswich Zone REIQ Chair,
Darren Boettcher.
“It’s great to see,” he says. “Ipswich is a rising market
but we do need a price correction - it’s too cheap. It
will start getting out of hand in about three years.
By then, the median price will be about $400,000 to
$450,000.”
At present, house prices across most suburbs are in
the $310,000 to 390,000 range.
At the forefront of the population and real estate
growth are the suburbs of at the eastern end of the
LGA, such as Redbank Plains and Collingwood Park.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 11Affordability, new homes and proximity to shops, Opportunities for units include Redbank Plains,
schools, medical facilities and public transport are where the median price is $319,000. Investors can
drawing young families to the Redbank Plains– expect rent of about $280 per week.
Ripley–Springfield region.
Vacancy rates in many of the older, more established
These suburbs have good access to Brisbane via the suburbs, such as Ipswich, Leichhardt, Silkstone and
Centenary Highway and the Springfield train line. Bundamba are below 3.0%.
Areas impacted by new development, such as
Across Ipswich City, rental returns are strong, with
Springfield, Redbank Plains, Ripley and Collingwood
most suburbs producing median yields of 4.5–6%.
Park, have higher vacancy rates.
There are few units across the City; houses make up Because of the potential for high levels of new home
90% of dwellings in the Ipswich LGA (compared with building, investors should monitor vacancy rates
75% in the Brisbane LGA). and building approvals.
IPSWICH VACANCY RATES
Postcode Suburb Vacancy rate
4300 Augustine Hts, Bellbird Park, Goodna, Springfield 3.1 %
4301 Redbank Plains, Collingwood Park 3.8 %
4304 Silkstone, Bundamba 2.4 %
4305 Ipswich, East Ipswich, Leighhardt, Newtown 2.6 %
4306 Ripley 3.0 %
Source: sqmresearch.com.au
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 12The suburbs listed below are a sample of the Ipswich house market:
Sales 1-year Growth Median
Suburb Median Houses
Houses Growth Average Yield
Augustine Heights 102 $545,000 3% -1 % 4.1 %
Bellbird Park 123 $375,000 0% 1% 4.9 %
Brassall 218 $341,000 1% 0% 5.3 %
Bundamba 98 $311,000 5% 1% 5.2 %
Camira 125 $410,000 5% 2% 4.6 %
Collingwood Park 127 $339,000 -2 % 0% 5.2 %
Eastern Heights 76 $320,000 6% 2% 4.9 %
Goodna 160 $312,000 -4 % 0% 5.3 %
Leichhardt 72 $243,000 2% 0% 5.9 %
North Ipswich 114 $290,000 5% 0% 5.4 %
Raceview 182 $325,000 3% 1% 5.4 %
Redbank Plains 284 $335,000 0% 1% 5.2 %
Ripley 45 $396,000 17 % 3% 4.7 %
Silkstone 88 $319,000 6% 2% 4.8 %
Springfield 92 $420,000 -2 % 1% 4.7 %
Springfield Lakes 370 $431,000 -2 % 1% 4.8 %
Yamanto 73 $356,000 -1 % 1% 5.1 %
Source: CoreLogic. “No. of sales” is the number of house sales in the past 12 months. “Growth ave.” is the average annual growth
in median prices over the past 10 years.“ snr” = statistically not reliable.
Future Prospects
The State Government and the Ipswich City Council
expect strong population growth to continue in
CORE INFLUENCES
Ipswich over the next 25 years.
In addition to the billion-dollar-plus residential Government Policy
projects listed in the tables at the end of this report,
there is another $2 billion worth of residential Transport Infrastructure
development across five projects under construction.
The combined projects will deliver over 4,000 Urban Renewal
dwellings, supported by new schools, roads and
general infrastructure. Cheapies with Prospects
Hospitals, shopping centres and the JBS meatworks
are expanding.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 13Heavy vehicle manufacturer Volvo, which builds up to
3,500 trucks each year, has just opened a $30 million Major retail centres, Redbank precinct
headquarters at Wacol and announced plans for a
$25 million expansion of its manufacturing plant. • Redbank Plaza
Volvo employs 530 people after adding 160 workers • Redbank Plains Shopping Village
in the last two years.
• Redbank Tavern Plaza Shopping Centre
Citiswich, a 350ha industrial estate and logistics hub • Orion Greater Springfield Shopping
at Bundamba and owned by Walker Corporation, Complex, Springfield
is reportedly Queensland’s largest industrial
development. • Masters hardware store, Springfield
• Brookwater Retail Village.
Recent road upgrades across the Brisbane region
mean travel times between Citiswich and key
centres such as the CBD, Brisbane Airport, the Port
of Brisbane, north and south Gateway arterials and
the TradeCoast Precinct have been reduced.
To fulfil the contract, Rheinmetall is first building a
Travel Centre, The Reject Shop, OneSteel, Caltex and $170 million manufacturing plant at Wacol, engaging
Australian Pharmaceutical Industries have taken up Watpac to carry out the construction work.
residence at Citiswich while $120 million is currently
Combined, the two projects would create 1,450 jobs
being spent on three other projects: Costco; TAE
and deliver $1 billion to the state’s economy over 10
Aerospace’s new headquarters; and Queensland
years.
Urban Utilities depot.
These are to be joined by a distribution centre, Recommended Locations
marked for commencement in 2019 by Walker
Corporation. The following precincts within Ipswich City stand
out for their growth prospects:-
And it’s not all about industry, the Brisbane Lions
AFL club plans to build a $70 million stadium and
headquarters at Springfield.
- THE REDBANK PRECINCT
These projects are creating thousands of jobs. • Redbank • Goodna
Meanwhile, the Ipswich City Council is spending • Redbank Plains • Bellbird Park
$150 million on revitalising the CBD. The project will • Collingwood Park
see Council’s administrative offices, city library and
civic centre relocated. The Council also has plans to The Redbank precinct has much potential because
build a $100 million performing arts complex. of new residential, retail and industrial development
including new schools. It has major road and rail
Another long-term Council project is a motor-sport links to central Brisbane, extensive shopping
precinct master plan. facilities and affordable homes.
- Defence Force The precinct borders high-development growth
areas such as Springfield and Brookwater.
The RAAF Amberley Airbase is a key driver in the
local economy. Between now and 2036, the Federal The train trip from Springfield to Brisbane on the
Government will contribute $1.5 billion towards Richlands to Springfield train line takes about 40 minutes.
expanding the base, funding more accommodation Employment options are being boosted by industrial
for personnel, new maintenance facilities and two estates, especially the $1 billion Citiswich industrial
new types of aircraft. estate.
All this activity will generate 2,800 extra jobs. Swanbank Enterprise Park, developed by Investa,
In another financial coup, Rheinmetall Defence will is turning disused coal mining land into one of
build 211 Boxer armoured vehicles costing $5.2 Australia’s biggest business and industry precincts
billion for the Australian Army. with the potential to create up to 15,000 jobs.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 14The $350 million Redbank Motorway industrial park The developer of Ripley Valley, Sekisui House,
will eventually employ 2,300 people. plans to develop a manufacturing plant in the area.
The 194ha development will feature retail and
The facility for the $5 billion project to build 211
commercial premises as well as 4,000 dwellings.
Defence vehicles will be in this precinct.
Two words of warning
- INNER EASTERN SUBURBS - Subsidence
• Booval • Tivoli Ipswich attracted national media attention in 2008
when homes built over disused coal mines in
• East Ipswich • Silkstone Collingwood Park suffered serious damage through
• Bundamba subsidence.
A cluster of suburbs east of the Ipswich CBD stands Another incident involving an old mine shaft at Basin
out: there are numerous suburbs with median prices Pocket occurred in August 2016.
under $320,000, including Booval, East Ipswich, The Ipswich City Council says only 1% of homes in
Bundamba, Tivoli and Silkstone. the city have been built over coal mines. Investors,
East Ipswich, which has many character houses however, would be wise to check before buying in the
ripe for renovation, is one of the most under-rated area.
precincts in the Ipswich LGA. Ipswich City Council offers an online mapping
system designed to help property buyers identify
- THE SOUTHERN PRECINCT areas affected by past mining.
- Floods
• Yamanto • Deebing Heights Ipswich was affected by flooding in 1974, 2011 and
• Ripley 2013. New flooding provisions adopting the 1974
flood level as the key residential development line
The precinct south of the Ipswich CBD is a growing for the city have subsequently been implemented.
area because the suburbs are more affordable than
those closer to central Brisbane. In Ipswich, buyers Flood mitigation has been carried out at Redbank
can find new four-bedroom two-bathroom homes Plains, Raceview, Yamanto, Brassall and Ipswich
with double garages at affordable rates and in a Central.
family environment.
More than $12 billion has already been invested in
developing Springfield, with only a fifth of the project
completed. The entire project will cost $85 billion.
The Ripley Valley area, 5km south of the Ipswich
CBD, is projected to have a population of 120,000 in
20 years, compared with 5,000 currently.
Stage one of the Ripley Town Centre opened in 2018.
Eventually, the $1.5 billion development will provide
jobs for up to 30,000 locals.
The Government is investigating three railway stations
in the valley, including one in the town centre, although
no funding has yet been committed. The possible route
of a future rail corridor would run from Springfield
Central and through Ripley in a loop to Ipswich.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 15Major projects currently impacting the region are:
INFRASTRUCTURE – GENERAL
Project Value Status Impact
RAAF Base Amberley $300 million Under construction The project includes
expansion Completion expected by facilities to house
2020 10 C-27J Spartan
battlefield airlifters
RAAF Base Amberley $583 million Approved Jobs: 120
- upgrade of E-7A Project to be completed The upgrade impacts
Wedgetails (combat by 2022 both Amberley and
aircraft) Williamtown bases
INFRASTRUCTURE – HEALTH AND MEDICAL FACILITIES
Project Value Status Impact
Springfield Health City $200 million Under construction Includes hospital
Stage 1 of the Mater facilities, aged care and
Springfield Land Corp Private Hospital retirement units
Springfield is completed
COMMERCIAL DEVELOPMENTS
Project Value Status Impact
Karalee Shopping $80 million Under construction
Village expansion Completion expected in
2019
Yamanto Central TBA Approved A 3-storey food and
Shopping Centre retail hub including
Coles and Kmart
Kelly Consolidated
Citiswich Business Park $1 billion Under construction Caltex, Travel
$120 million is being Centre, Reject Shop,
Walker Corp spent on 3 new OneSteel, Australian
premises Pharmaceutical are
tenants
Brisbane Lions AFL $70 million Proposed
Stadium and HQ
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 16COMMERCIAL DEVELOPMENTS
Project Value Status Impact
Metroplex Westgate $350 million Under construction Jobs
project, Wacol Stage 1 completed in 10,000
February 2017
GPT and Metroplex Former Army Barracks
(60ha) will be converted
into mixed industry,
retail and commercial
space
Orion Springfield $154 million Under construction Jobs
Central expansion Event Cinemas, Stage 2 opened in July 700 retail
Target, Coles, 80 extra 2016 440 construction
Mirvac retailers, cafes and
restaurants
New Generation $4.4 billion Under construction Jobs
Rollingstock project, Trains have been built 150
Wulkuraka station but require modification
for disability access. The project will deliver
Qtectic (Qld Govt) NGR trains are now 75 nine-car trains
operating on 8 metro and a purpose built
rail networks maintenance centre
Inner city revitalisation $150 million Under construction Includes a new Council
project admin building, new
library, commercial,
Ipswich City Council retail, entertainment
and food precinct
New manufacturing $170 million Under construction Jobs
plant, Wacol Watpac is building the 1,450 across the two
plant Rheinmetall projects
Rheinmetall Defence
Australia
Defence manufacturing $5.2 billion Approved Jobs
contract, Wacol 211 new armoured 1,450 across the two
vehicles are to be built Rheinmetall projects
Rheinmetall Defence for the Australian Army
Australia
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 17RESIDENTIAL DEVELOPMENTS
Project Value Status Impact
Providence, master- $2 billion Under construction A town centre, sporting
planned city, Ripley facilities, schools and
Valley 7,000 homes
Amex Ripley Valley
Apartment complex, $6 billion Proposed 10,000 apartments are
City Centre North (next To be developed over 15 planned
to Springfield train years
station)
Springfield Land Corp
Ecco Ripley $1.4 billion Under construction A long-term project to
create 4,000 homes
Sekisui House
Monterea Ripley $300 million Under construction 900 dwellings
Retirement village, $1 billion Under construction 2,400 dwellings are
Ripley Valley planned
Aveo Group
Waterlea, Walloon $350 million Under construction 1,500 lots for 4,500
residents
Springfield Rise, Spring TBA Under construction 4,000 dwellings
Mountain
675 construction jobs
Lendlease per year for 10 years
and 500 operational
jobs
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 18INFRASTRUCTURE – TRANSPORT
Project Value Status Impact
Norman Street bridge, $320 million Proposed
linking North Ipswich Would require funding
& East Ipswich over the from all three levels of
Bremer River government
Ipswich Motorway $400 million Under construction Jobs
upgrade, Darra to The motorway will be Completion expected in 470 during
Rocklea widened from four to six late 2020 construction
lanes from Rocklea to
State & Federal Govt Darra
Cunningham Highway $276 million Proposed
upgrade - Yamanto to Would need funding from
Willowbank the State Govt
Ipswich City Council
Extended rail line, $150 million Proposed
Springfield Central to Would need funding from
Redbank Plains the State Govt
TOP 5 BRISBANE HOTSPOTS January to May 2019 - IPSWICH CITY 19REDCLIFFE PENINSULA
South East Queensland
Highlights
• $1.2 million Moreton Bay Rail Link • Bayside lifestyle
• $590 million Newport project • Affordability (houses & units)
• New Regional University Precinct • Revitalised image
• $140 million Westfield North Lakes • Infrastructure spending
redevelopment
Suburb - Typical Suburb - Typical Suburb - Typical
houses prices houses prices units prices
Kippa-Ring $434,000 Redcliffe $439,000 Kippa-Ring $295,000
Margate $449,000 Scarborough $520,000 Margate $405,000
Newport $830,000 Woody Point $491,000 Redcliffe $403,000
The Redcliffe Peninsula finally has the transport link that it’s been promised for
decades. The opening of the $1.2 billion Moreton Bay Rail Link – providing a rail
connection from Kippa-Ring to Petrie and onward to the Brisbane CBD - is a game-
changer for real estate on the Peninsula.
The market is responding, with some suburbs delivering solid price growth in the
past couple of years.
The Redcliffe Peninsula may be geographically close to Brisbane, but it has suffered
for years from transport links that did not keep pace with demand.
Redcliffe was first connected to the ‘mainland’ in 1935 by the 2.7km Hornibrook
Bridge, which helped the establishment of Redcliffe as a seaside suburb. It was
replaced in 1979 by the concrete Houghton Bridge and then in 2010 the $315 million
Ted Smout Memorial Bridge was opened.
Now direct rail links – promised at state elections for decades without being delivered
– have finally been constructed.
The appeal of the precinct has also been enhanced by ongoing improvements to
lifestyle elements on the Peninsula.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - REDCLIFFE PENINSULA 21Economy and Amenities
Since the 1880s, Redcliffe has been a popular seaside
resort location due to its proximity to Brisbane. But in
recent years it has become a collection of dormitory
suburbs for people commuting to work elsewhere. Location
A high proportion of the 55,000 people who live in the • 28km north-east of Brisbane
Redcliffe precinct commute to work in Brisbane and
the fast-developing northern suburbs of the Greater • Suburbs on the Redcliffe Peninsula,
Brisbane area. Moreton Bay
But there are plenty of jobs locally too, with a dozen
schools, two hospitals, three marinas and major • Accessible via Gympie Road or the
shopping centres. Gateway Motorway, then Anzac Avenue
According to Census statistics, 17% of the working • Part of Moreton Regional Council, the
population are engaged in retail trade, 13% in
manufacturing and 10% in health and community third largest LGA in the nation.
services.
Redcliffe is marketed as a tourism destination, with
22km of beaches, good fishing, whale-watching and
attractions like the Redcliffe Museum, the historical
Redcliffe Jetty and Settlement Cove aquatic park.
Redcliffe became home to Bee Gees Way in 2013
when the last surviving member of the Bee Gees,
Barry Gibb, unveiled a statue of the famous band
members who grew up in the seaside town.
The Redcliffe Jetty Sunday markets attracted
350,000 visitors in 2017.
Population & Demographics
Recent infrastructure and property developments
include: • Population Redcliffe 2016: 59,500
• $140 million upgrade of Westfield North Lakes • Median age Redcliffe: 45
• the upgrade of the Houghton Highway Bridge • Population Moreton Bay
Region 2016: 425,000
• a $27 million upgrade of Redcliffe Hospital
• Projected population
• the $65 million Woolworths-anchored Bluewater Moreton Bay Region 2041: 656,000
Square shopping centre
• an $80 million upgrade of the nearby Kippa-Ring
Shopping Village One of the fastest developing places in
Australia.
• a high-rise hotel with 184 residential and serviced
apartments in place of the old Seabrae Hotel
• Azure Blue Aged Care, a $50 million facility Source: 2016 Census
comprising 122 apartments and 96 hospital
beds.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - REDCLIFFE PENINSULA 22Property Profile Numerous unit projects are approved and in addition
to those listed in the tables under “Future Projects”,
The Peninsula offers affordable dwellings, proximity another 310 units across six projects are approved
to Brisbane and the laid-back atmosphere of a in the suburbs of Margate, Scarborough and Woody
bayside village. Point, according to the database of urban.com.au.
Redcliffe has had solid growth since its suburbs were There are also unit projects under construction at
identified by people looking for affordable bayside Newport and North Lakes, but for now, the best
real estate within striking distance of employment. yields in the unit market are 5.8% in Kippa-Ring.
It had a price peak in 2008 and another in 2010. The median unit price in Kippa-Ring is $295,000
based on 41 annual sales.
The following years saw subdued growth, with most
of the peninsula markets experiencing declines in Vacancies are generally low to moderate throughout
median house prices in 2011-12, before the first the precinct, although vacancies in Kippa-Ring
signs of a return to growth in 2013 and 2014. have been unsettled since mid-2016, rising to
7% in November 2016 and fluctuating beyond the
The extension of the train line to Redcliffe in 2016,
benchmark of 3% on several occasions.
taking in new stations at Kallangur, Murrumba
Downs, Mango Hill, Mango Hill East, Rothwell and At present, vacancy rates in the main Peninsula
Kippa-Ring gave the Peninsula a much needed boost postcodes are below 3.0%.
and improvements are beginning to materialise.
Our Spring 2018 survey for the Price Predictor Index REDCLIFFE VACANCY RATES
identified Redcliffe and Kippa-Ring as rising markets.
Each has affordability and solid infrastructure as
P/code Suburbs Vacancy Rate
drivers of growth, Kippa-Ring being near the new
Kippa-Ring train station. 4019 Margate, Woody Point,
The median house rents in Clontarf, Kippa-Ring and Clontarf 1.8 %
Margate range from $365 to $385 and investors can
find houses priced in the mid-$400,000s in several 4020 Redcliffe, Scarborough 2.6 %
suburbs across the precinct.
4021 Kippa-Ring 2.2 %
Most Peninsula suburbs have long-term growth
averages around 3% per year and yields ranging Source: sqmresearch.com.au
from 4.2% to 4.6%.
The suburbs listed below are a sample of the Redcliffe house market:
Sales 1-year Growth Median
Suburb Median Houses
Houses Growth Average Yield
Clontarf 154 $450,000 1% 3% 4.4%
Kippa-Ring 175 $434,000 5% 2% 4.6%
Margate 143 $449,000 -1 % 3% 4.2%
Newport 99 $830,000 1% 0% 3.9%
Redcliffe 151 $439,000 -3 % 3% 4.4%
Scarborough 141 $520,000 -5 % 3% 3.9%
Woody Point 65 $491,000 9% 3% 3.9%
Source: CoreLogic. “No. of sales” is the number of house sales in the past 12 months; “10yr ave.” is the average annual rise in
median house prices in the past 10 years. “Snr”: Statistically not reliable.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - REDCLIFFE PENINSULA 23The Redcliffe unit market can be summarised as:
Sales 1-year Growth Median
Suburb Median Units
Units Growth Average Yield
Kippa-Ring 41 $295,000 6% 1% 5.8 %
Margate 46 $405,000 8% 1% 4.5 %
Redcliffe 151 $403,000 -6 % 2% 4.7 %
Scarborough 116 $498,000 2% 3% 4.1 %
Woody Point 78 $420,000 -13 % 5% 4.3 %
Source: CoreLogic. “No. of sales” is the number of house sales in the past 12 months; “10yr ave.” is the average annual rise in
median house prices in the past 10 years. “Snr”: Statistically not reliable.
Future Prospects CORE INFLUENCES
The opening of the train line to Kippa-Ring in 2016
is now luring interstate investors to the Redcliffe Government Policy
Peninsula.
General manager at LJ Hooker Redcliffe, Kylie Sea Change
Loof, says that before the line opened, about 30% of
investors were from interstate. Now it’s about 50%. Transport Infrastructure
Train services have been needed because Moreton
Bay region is the third largest local government area Urban Renewal
in Australia and one of the fastest-growing areas in
the country with the population set to exceed 500,000
by 2031. Stockland is building 1,673 homes, some of which
In the past, transport in the Moreton Bay region will include waterfront access, in a $590 million
was heavily geared towards cars. More than half the project which will take 10 years to complete. It also
region’s population departed the area every day to has approval to begin work on the Newport Shopping
travel to work with the vast majority (83%) using a Centre.
private vehicle for their journey. The nearby suburb of North Lakes has evolved with
That is now changing, thanks to the new rail link. three schools, six child-care centres, an industrial
estate, an 18-hole championship golf course, 80km
An express train from Kippa-Ring takes 45 minutes of bikeways and walkways, 53 parks and eight sports
to reach the Brisbane CBD, compared with over an fields.
hour by car in peak-hour traffic. Each full train on
the new line removes 600 cars from surrounding A $140 million expansion of Westfield Northlakes
roads, thus reducing congestion. has recently been completed. The centre now offers
IKEA, Kmart, JB HiFi, Cotton on Mega, Rebel, Event
News of the rail link has prompted around $215 Cinemas and 60 additional stores.
million of investment in the region in recent years.
The Redcliffe waterfront has been revitalised with As more people come to live in North Lakes, the list
cafes, restaurants, bars and weekend markets. of amenities continues to grow.
Since January 2016, numerous residential It includes a private hospital, medical facilities,
developments have been approved by MBRC in vet services, retirement village, a TAFE Skills Tech
the suburbs adjacent to the rail line, including facility and $45 million community hub.
townhouse developments and apartment buildings North Lakes has helped to lift the appeal of the
in suburbs such as Kallangur, Murrumba Downs and Redcliffe Peninsula suburbs by improving the
Mango Hill. lifestyle and amenities of the area.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - REDCLIFFE PENINSULA 24The following projects will impact economic activity in the Redcliffe Region:
INFRASTRUCTURE – EDUCATION
Project Value Status Impact
New Moreton Bay TBA Proposed Will create increased
Regional University Will cater for 10,000 demand for rentals in
Precinct students by 2030 the region.
Sunshine Coast Uni
INFRASTRUCTURE - GENERAL
Project Value Status Impact
New Dolphin Stadium $12 million Completed Economic benefits
A rugby league stadium $32 million per year
Redcliffe Dolphins to seat 10,000
Newport Shopping TBA Aproved Jobs
Centre Includes restaurants, 467 construction
health services, indoor 150 operational
Stockland sports facility, offices
Multi-storey car park, TBA Proposed An extra 600 car spaces
Redcliffe Hospital are planned
State Government
RESIDENTIAL DEVELOPMENTS
Project Value Status Impact
Newport, Scarborough $590 million Under construction Jobs
A 1,600-home master- Completion expected 3,000
Stockland planned community around 2025
Retirement village, $69 Million Under construction
Newport
Stockland
Units, 55 Redcliffe Pde TBA Under construction 90 units above shops
Completion expected in
Suncity Homes 2019
Units and hotel, 156-158 TBA Proposed 90 mid-rise units and
Griffith Rd, Newport 120 hotel rooms
Kindred Devts
TOP 5 BRISBANE HOTSPOTS January to May 2019 - REDCLIFFE PENINSULA 25Project Value Status Impact Units, 86-90 Prince TBA Approved 47 mid-rise units Edward Parade, Redcliffe Units, 133-151 Redcliffe TBA Approved 89 high-rise units Parade, Redcliffe Units, 99-101 Sutton TBA Approved 76 mid-rise units Street, Redcliffe Units, 81 Sutton Street, TBA Approved 99 mid-rise units Redcliffe VIDA North Lakes TBA Under construction 96 low-rise units Stockland Units, 19-23 Redcliffe TBA Proposed 163 mid-rise units Parade, Redcliffe Units, 1785 Anzac TBA Proposed 715 mid-rise units Avenue, Mango Hill Mango Hill Property Units, 92-96 Hornibrook TBA Proposed 93 mid-rise units Esplanade, Clontarf Hastone Australia TOP 5 BRISBANE HOTSPOTS January to May 2019 - REDCLIFFE PENINSULA 26
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Click here for our Privacy PolicyBRISBANE NORTHSIDE
Metropolitan Brisbane
Highlights
• Strong middle market sector • $355 million Chermside Shopping
• $1.1 billion Herston Quarter Centre upgrade
• $80 million Inner City Bypass • $1.2 billion Racecourse Village
upgrade project
• Good transport links • $270 million Circa Nundah Village.
Suburb - Suburb - Suburb -
Typical prices Typical prices Typical prices
houses houses units
Alderley $840,000 Mitchelton $657,000 Gaythorne $375,000
Everton Park $615,000 Stafford $613,000 Kedron $406,000
Kedron $728,000 Stafford Hts $615,000 Kelvin Grove $405,000
Keperra $528,000 Windsor $785,000 Lutwyche $475,000
Brisbane is enjoying a renewed confidence following commencement of the Queens
Wharf development and the announcement of the Cross River Rail – both mega-
projects destined to generate economic activity and jobs.
Brisbane Northside can expect to benefit not only from these projects, but also
several large commercial, medical and residential developments that are now under
way – for example, the $1.1 billion Herston Quarter venture and the $1.2 billion
Racecourse Village project.
Transport infrastructure in Brisbane Northside has been enhanced by major
upgrades in recent years, improving connectivity to the CBD, western suburbs and
the airport, thus reducing commuting time for workers.
Part of the appeal of Brisbane Northside is that its economy is solid, boosted by
large employers such as hospitals, government departments and the Queensland
University of Technology.
With attractive unit prices in suburbs such as Enoggera, Kelvin Grove and Herston
- where there is a high percentage of renters - there are opportunities for investors
to buy affordably and achieve good rental returns. Investors, however, need to check
vacancy rates, which are high in some unit markets.
TOP 5 BRISBANE HOTSPOTS January to May 2019 - BRISBANE NORTHSIDE 29You can also read
