G O L D C O A S T • I P S W I C H • M A C K AY
IPSWICH OUTLOOK
APRIL 2020
Ipswich is centrally located in booming south east Queensland, with the state’s capital Brisbane to the east, and numerous rural and agricultural hubs to the west. The city is ideally positioned on the national road network; just 40 minutes drive from burgeoning Brisbane and an hour’s drive from the beautiful Gold Coast.
In 2019 there were over 1.6 million visitors to the region,
Ipswich is Queensland’s oldest provincial city and has a rich history, renowned for its architectural, natural and cultural heritage. It also offers all the modern facilities and attractions of a progressive city, and is an exciting place to live, work, invest and visit.
in Australia, with a youthful demographic and
an increase of around 35% or 400,000 visitors since the first Ipswich Destination Management Plan was established in 2015. The city has one of the fastest growing populations affordable housing. Ipswich plays a key role in the State Government’s strategy to direct population growth away from the coast – making it the ideal place to invest.
LOCATION: Ideally positioned on the national
PROPERTY PRICE GROWTH: Redbank Plains
RAPID DEVELOPMENT: Major features in
Coast to the south, and the agricultural hubs of
suburb in Ipswich, with the latest reports
line, expansion of the University of Southern
road network with Brisbane to the east, the Gold Lockyer and Fassifern Valleys to the west. SPRINGFIELD: The award-winning
Springfield master planned community is located in Ipswich.
has topped the list for the fastest growing
suggesting 21,520 people call the suburb
home, the median house price at $420,000.
the area include a new hospital, new railway
Queensland, Amberley RAAF base expansion and extensive road infrastructure projects.
RENTAL GROWTH: If you are looking for
an investment property, consider houses in
Redbank Plains rent out for $345 PW with an annual rental yield of 5.7.
T H E R E A R E M A N Y G R E AT R E A S O N S TO I N V E S T I N I P S W I C H : Ipswich is the fastest growing city in Queensland, with the population estimated to increase from 200,000 to almost 500,000 over the next 25 years.
Ipswich is directly connected to six major highways, rail, an intermodal transport hub, three airports and the Port of Brisbane, including A and B-double access and direct high voltage links to power stations.
Queensland’s economy, along with industry and population growth patterns, has created a unique opportunity for the City of Ipswich to service South East Queensland supply chains.
Ipswich has competitive startup cost advantages and access to plentiful light and heavy industrial land to suit any enterprise.
South East Queensland is forecast to create 783,000 jobs, with Ipswich set to gain a large share of job growth, especially in manufacturing.
Master planned communities like Springfield and Ripley Valley are creating jobs and Ipswich is set to become a globally connected city of the future.
ECONOMIC OUTLOOK:
SPRINGFIELD
The City of Ipswich’s Gross Regional Product was $9.77 billion in the year ending June 2019. The Ipswich economy is driven by traditional industries of Manufacturing, Health Care and Social Assistance, Retail Trade, Education and Training, Public Administration and Safety, Construction, and Transport, Postal and Warehousing. The award-winning Springfield master planned community has been developed over the last decade as a satellite city. Already with a new hospital, business park and railway line, Springfield currently has several other projects in the pipeline including 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 extend the Orion shopping centre during 2019-20.
Reccent landmark project is a $6 billion 10,000 apartment, retail and office space development, which will generate 4,000 jobs. Construction has also begun on the Ripley Town Centre, a $1.5 billion development, creating an
environmentally friendly community hub, which will employ 20,000 over the next two decades.
In 2017, the first residents moved into Aveo’s $1 billion
Springfield master-planned retirement village near Ipswich – the largest facility of its kind in Australia.
The entire project, which will take 15 years to complete,
will offer 2500 retirement residences within the Health City precinct of Greater Springfield, a 2860-hectare masterplanned city.
RAPID DEVELOPMENT Beside the flurry of development at Springfield, many areas of Ipswich have major development projects and infrastructure upgrades planned and underway. The upgrade to the Ipswich Motorway has commenced
and will greatly reduce congestion and improve the road’s flood immunity. The motorway caters to more than 85,000 motorists, including 12,000 trucks, daily. This upgrade will provide 470 jobs in the region.
The $400 million project is jointly funded by the Australian and Queensland Governments, each committing $200
million. Major construction works commenced in October 2017 are expected to be completed in early 2021.
The City of Ipswich is recognised as one of Australia’s
primary defence regions with significant Australian Defence Force representation, an extensive industry network,
established skilled workforce and a demonstrated capacity for growth and innovation.
Defence is the second largest industry sector in Ipswich by
terms of export value of $1.36 billion and nearly 10 per cent of all employment in Ipswich being in the defence industry and associated supply chain. A quarter of Queensland’s defence workforce operates in Ipswich.
RAAF Base Amberley is Australia’s largest military air base,
contributing over 5,200 local jobs and over $565 million in direct regional expenditure each year.
Three new public schools have opened in recent years to
keep-up with the growing number of families with children. Fernbrooke State School, a co-education prep to year six
facility in 2017, Bellbird Park State Secondary College and Redbank Plains primary School in 2018.
Information technology is a key focus for Ipswich with
Council dubbing Accenture to progress the city’s ‘Smart City’ Transformation Strategy and Implementation Plan.
Underpinning Greater Springfield’s progress into the field of information technology is the $275 million Polaris Data Centre. Owned and fully operated by Springfield City
Group, Polaris has been designed to Tier 3+ standards
and is widely regarded as one of Australia’s leading, most modern, highly secure, purpose-built facility.
The $1 billion Ipswich CBD revitalisation program will see commercial towers, a 60,000m2 shopping centre with
cinemas, library, car parking and community amenities. In 2015 the $550 million Dusit Thani Brookwater Golf & Spa Resort launched made a splash on the market, with Stage 1 achieving $44 million in sales
for one of the largest foreign investment developments in Australian history.
It is the biggest large-scale tourism project ever built in the region, bringing international visitors to the city.
Current statistics predict that by 2026, the Ipswich economy will be $12.7 billion, a growth of 159.2% since 2008.
The local railway industry has been revived by Canadian multinational Bombardier, which was awarded the State Government tender to build a $190 million railway maintenance centre at Wulkuraka.
$150 million Ipswich CBD redevelopment commenced in 2017, with a new road down Nicholas Street just the first step of the CBD’s rejuvenation.
$140 million Redbank Plains Town Square has been built
next to the existing Redbank Plains Retail Centre, bringing with it over 60 big name and specialty stores.
Construction of a $15 million aged-care facility by Catholic Healthcare service has been finalised and accommodates for 100 residents.
$350 million rin esidential community construction has
started, which is set to provide homes for 4,500 people for the ever-expanding city of Ipswich.
I N F R A S T R U C T U R E A N D D E V E LO P M E N T AT A GLANCE: • $150 million Ipswich CBD redevelopment • $400 million upgrade to the Ipswich Motorway • $1.5 billion expansion to the RAAF base at Amberley • $190 million railway maintenance centre • $275 million Polaris Data Centre • $550 million Dusit Thani Brookwater Golf & Spa Resort
RESIDENTIAL MARKET INSIGHTS Ipswich has one of the fastest growing populations in Australia with vast amounts of inexpensive land, affordable housing, a young demographic, and comparable household incomes to wider Queensland.
HOUSING SUBURB PROFILES: SNAPSHOT OF IPSWICH W E E K LY M E D I A N A D V E R T I S E D R E N T
REDBANK PLAINS
$350 $430
AUGUSTINE HEIGHTS RACEVIEW
$340
The population of Ipswich increased by 16.1% between
FLINDERS VIEW
$343
August 2017, Usual Resident Population). Growth over
C O L L I N G W O O D PA R K
$340
2011 and 2016, reaching 193,719 on Census day (9
this period has been nearly double the rate for both
Queensland and Australia, and significantly more than other benchmarked Local Government Areas (LGAs).
The projected population of Ipswich is expected to top
BRASSALL
$340
G R O S S R E N TA L Y I E L D
435,000 by the year 2031.
Significant residential and commercial development has taken place in the region including housing, schools,
shopping centre developments and business precincts. A report by the Department of Infrastructure and Transport forecasts 56,000 jobs will be created in Ipswich’s central suburbs by 2026.
The jobs growth, coupled with affordable prices, will fuel demand for housing. The area has been marked as a
‘hotspot’ in terms of new home building and population growth.
5.7%
REDBANK PLAINS AUGUSTINE HEIGHTS RACEVIEW FLINDERS VIEW C O L L I N G W O O D PA R K BRASSALL
4.46% 5.62% 4.98% 5.48% 5.39%
With 500,000 people expected to be living in Ipswich by 2036, the Ipswich council is making inroads on
the infrastructure needed to cater for them. Planning
schemes and projects are underway to make room for
economic and social development without impacting on the area’s natural environment.
Sustainable population growth is supported by
investment and leads to demand for services and
materials during construction, and demand for services following construction.
Well-managed population growth in Ipswich, which is
supported by the necessary infrastructure and services, increases demand, leads to job creation and increases productivity and wealth.
• 34% of households are couples with children. 23.8% are couples without children. • 58% of households are purchasing or fully own their home and 30.8% rent privately. • The market is characterised by a lower property entry price, a youthful demographic and a rapidly growing population. • Ipswich is an increasingly attractive place for property investors to invest, with a low entry price and above average rental yields.