Ipswich

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Ipswich, once the capital growth leader for the Brisbane metropolitan area and a favourite target for property investors from around Australia, is mounting a comeback after three years in the doldrums.
Up until 2013, Ipswich City dominated the growth rankings for Greater Brisbane. In a report early in 2013, I wrote: “Ipswich City is the capital gains star of the Brisbane metropolitan area. The municipality which encompasses the south-western fringe of the Greater Brisbane area has the top five suburbs for long-term capital growth. It has eight of the top 10 - and 15 of the top 25 suburbs.”
At that time, virtually every suburb of Ipswich had a long-term growth rate (average annual growth in median prices over the previous 10 years) above 10% per year. It had attracted home-buyers in large numbers and investors seeking affordable prices and above-average rental yields.
Today, after three down years, the same suburbs have long-term growth averages in the 4-5% range.
But the comeback has started, with the first compelling evidence seen in the latest quarterly figures. Hotspotting analysis of sales volumes shows that Ipswich City has belatedly joined the overall positive trend in the Brisbane market. The LGA now has eight suburbs with clear growth trajectories – double the number in the previous survey three months ago. 
Brisbane’s real estate sector has been behaving quite differently to that in Sydney, where for much the past 2-3 years there has been double-digit price growth right across the metropolitan area.
In Brisbane, there has been growth in individual sectors, but it has not been widespread and the generalised growth figure for the city overall has been moderate at best. 
The Brisbane North precinct was the first to get on a growth path about two years ago and many suburbs in that area recorded double-digit annual growth in median prices.
That market is no longer pumping to the same degree – sales activity has tapered off in most of those suburbs which were previously the market leaders of Greater Brisbane.
Now the southside has taken over. In our survey three months ago, Brisbane South was the market leader, with Logan City alongside. Now Logan City (the affordable urban bridge between Brisbane City and the Gold Coast) is the clear leader, with 18 growth suburbs, followed by Brisbane South with 13.
And starting to mount a challenge, well behind these other sectors in the cycle, is Ipswich City.
There was an inevitability about the Ipswich revival because this precinct ticks all the boxes. It is a perfect fit the “power combination” of factors that drives real estate markets – affordability plus infrastructure plus jobs nodes. 
This area has a good supply of suburbs with median house prices in the $200,000s, ample land for future development, big government spending on infrastructure of all kinds, an ambitious and proactive council, and billions in investment from the private sector. 
Many big businesses with major warehousing needs are based out there because the land is cheap and the transport links are good.
Entities involved in key current projects across Ipswich City include Mirvac, GPT, TNT Express, Devine, Lend Lease, Ramsay Health Care, the State Government, the Ipswich City Council and an array of major Asian companies.
As well as cheap entry prices, the area offers solid rental yields, typically in the 5.5% to 6% range.
Goodna is a fairly typical offering. It’s a modest but well-connected suburb, located on the Ipswich Motorway and the rail line to central Brisbane, close to multiple jobs nodes and not far from the extensive facilities of the Springfield master-planned community. It recorded 120 houses sales in the past year at a median price of $290,000 and median yield a little below 6%. 
As the overall Ipswich City market rises, some suburbs are starting to deliver the kind of price growth that made Ipswich a capital growth star in the past. The suburbs of Ipswich, East Ipswich, Woodend and Yamanto have all had double-digit growth in median prices in the past 12 months, while others have grown between 5% and 10%. 
I suspect it’s poised to return to the status that made it popular among bargain-hunting investors in the past.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
 
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Brisbane's Ipswich mounting a property comeback: Terry Ryder

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EXPERT OBSERVER
There are strong linkages between events in the local economy and outcomes in real estate markets.
If a city’s economy is growing and creating jobs, real estate markets will be busy.
Proximity to employment nodes is an important marker to look for, remembering that most of the jobs are in the suburbs, not in the CBDs.
At Hotspotting we’re scouring information sources every day looking for events that indicate buoyancy (or otherwise) in local economies.
If a major new infrastructure project is planned, we want to know about it. If a business is expanding, creating hundreds of extra jobs, that’s worth adding to our database of knowledge. If a company is relocating its business because of a particular dynamic in the new location, that creates a blip on our radar screen.
Here are some examples of what I mean:
Tesla and South Australia
Elon Musk’s Tesla has set up the group’s first Australian battery and electric cars service centre at the Tonsley innovation precinct in Adelaide. 
Heath Walker, senior manager, marketing and communications at Tesla, says: “The facility will help service our growing footprint in the state, including the <a href="https://www.adelaidenow.com.au/news/south-australia/worlds-largest-lithium-battery-switched-on-near-jamestown/news-story/2c4992845ce77309d7dad0d48a2d754c">Hornsdale battery system</a> and other Powerwall systems we have there, including one recently installed at the TAFE facility at Tonsley.”
The Federal and State Governments last month announced they will invest in South Australia’s second large-scale Tesla “big battery’’. The 52MWh battery will be connected to the existing Lake Bonney Wind Farm near Millicent in the state’s south-east.
Tesla installed Australia’s first big battery - and currently the world’s largest at 100MWh - at Jamestown, next to the Hornsdale wind farm run by French company Neoen.
In July, Tesla installed residential-scale batteries at 100 Housing SA homes, equipped with solar panels as part of the first phase of a State Government-backed 250 MW virtual power plant. A further 1000 public housing properties will receive the same equipment in the second phase.
Why do we care? Because the South Australian economy is on a growth path and a significant part of the emerging growth is the state’s status as the national leader on alternative energy and Adelaide’s growing reputation as the nation’s leading city for high-tech innovation.
The Tonsley precinct, which has emerged from the ashes of a former Mitsubishi car plant, is a thriving innovation, health and education centre in the Marion LGA, which we rate highly as an emerging hotspot.
Youi and the Sunshine Coast
Insurance company Youi is currently seeking to recruit 120 people for its headquarters on the Sunshine Coast. 
When the $73 million building at Sippy Downs first opened in November 2017, it employed 1,000 people and the company's stated vision was to eventually grow this to 3,000. 
Youi’s decision to locate its national HQ on the Sunshine Coast is indicative of the evolution of this location from tourist resort to regional city.
A lot is changing in the Sunshine Coast economy, much of it inspired by major spending on infrastructure and new business ventures. 
The new medical precinct, based around the $2 billion Sunshine Coast University Hospital, has been a game-changer.  Billions more are being spent on the local airport, key sections of the motorway, the new Maroochydore CBD and many other projects. 
The total list of Sunshine Coast projects is worth over $20 billion and it’s transforming the local economy - and with it the local property market.
Ipswich and the military economy
Any location with a strong military economy has an advantage. Cities with a RAAF Base and/or Army base have a built-in generator of economic activity and jobs, particularly given the current national trend of expansion.
Examples include Newcastle, northern Adelaide, Wagga Wagga and Ipswich in the far south-west of Brisbane.
Ipswich has the Amberley RAAF Base on its doorstep and has a growing number of major businesses servicing the military.
It was announced recently that TAE Aerospace will develop a Turbine Engine Maintenance Facility (TEMF) in the Ipswich suburb of Bundamba to support Australia’s fifth-generation F-35 Joint Strike fighter jets. 
The addition of the F135 engine MRO&amp;U activities will add 15 aerospace technician jobs to its workforce and up to 85 additional jobs as part of the future F-35 Global Support Solution.
Not far away in Wacol, Rheinmetall is building its $170 million Military Vehicle Centre of Excellence to build vehicles for the Australian Army. Watpac has been appointed managing contractor to deliver the facility, which is expected to support 300 jobs, with completion expected in 2020.
The facility will be Rheinmetall's largest presence outside of Germany and will manage the delivery of the initial 211 Boxer combat reconnaissance vehicles under Land 400 Phase 2, and accommodate Rheinmetall's other defence projects.
Also in Wacol, Volvo Group Australia recently opened its new national headquarters at the Metroplex Westgate business park, close to the company’s existing assembly plant.
Around 300 jobs were created during construction of the new headquarters and around 195 people will now work there, along with 530 at the nearby factory.
For these and many other reasons, I’m bullish about the prospects for real estate growth in Ipswich, which has many affordable suburbs and strong infrastructure, as well as many big jobs nodes. Businesses base themselves there because the land is cheap and the transport links are good.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Military economy benefiting Ipswich property investors: Hotspotting's Terry Ryder

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Privately-owned developer Orchard Property Group has taken the wraps off its latest project with the launch of the $105 million Aurora project in the heart of Ipswich’s booming southern corridor.
With construction well underway, the 63 homesites in the first release of Aurora Deebing Heights will be completed and registered in September, providing buyers with access to the Federal Government’s $25,000 HomeBuilder grant.
The first release at Aurora includes homesites ranging in size from 362 sqm to 600 sqm (median size of 420 sqm) and prices starting from $186,000. House and land packages are available from $399,844.
Orchard Property Group Managing Director Brent Hailey said the 502 lot Aurora project was expected to benefit from the growing demand for large, affordable homesites close to a number of major employment hubs.
“Over the last decade, Deebing Heights has emerged as one of the hidden gems in the Ripley Valley growth area with schools, shopping and recreation facilities all just a short drive away,” he said.
“The new Deebing Heights State School has quickly gained a strong reputation since it was opened in 2016 and is just a few minute’s drive from Aurora.
“The suburb has been in the shadow of the larger Ripley area for many years, but its proximity to the Ipswich CBD, Amberley RAAF base and other employment hubs has established it as property hotspot in its own right.”
Ipswich is the fastest-growing region in Queensland, with annual population growth of more than 4 per cent with 70 per cent of that growth occurring in the region between Ipswich CBD and Springfield.
The rate of growth has prompted new Ipswich City Council Mayor Teresa Harding to make a submission to Infrastructure Australia in support of a 25km public transport corridor between Ipswich CBD and Springfield Central, including a new station at Deebing South.
Deebing Heights has been one of the fastest growing suburbs in Ipswich over the last decade, growing from a population of 344 at the 2011 census to 2,023 by 2016. This is expected to continue to grow exponentially over coming years.
Mr Hailey said Orchard was expecting strong demand for the project with the HomeBuilder grant and the State Government’s first homebuyer grant providing plenty of incentive for buyers.
“The HomeBuilder grant has been a strong driver of demand for new land since it was announced in June and we would expect that to continue right up to the deadline at the end of December.” 
Combined with the State Government’s $15,000 grant, first home buyers now have access to $40,000 in grants. 
Aurora was made possible by a $7.2 million Catalyst Infrastructure Program grant from Economic Development Queensland (EDQ) to undertake a major upgrade of Binnies Road, Ripley, to provide access to the site. 
Orchard acquired the 34-hectare site at 160 Dalys Road, Ripley, late last year from a group of investors for $11 million. The acquisition takes Orchard’s total pipeline of lots owned and under control to more than 2,000 across five different projects around South East Queensland. The site included an existing Development Approval for a new masterplanned community. 
The Ripley Valley PDA, located about five kilometres south-west of the Ipswich CBD and around 50 kilometres from Brisbane CBD, was declared a PDA in 2010 and covers 4,680 hectares.
The new project will be Orchard’s second largest, following the launch earlier this year of the 650-lot, $120 million Pebble Creek project at South Maclean. The company recently completed sales at PineVue @ Maudsland (110 lots) and has active projects at Ormeau, Narangba and Caboolture.
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$105 million residential project puts Deebing Heights in the spotlight

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Retail builder Mainbrace Constructions has been appointed by development manager DMA Partners and owner JMK Retail to construct the new Yamanto Central retail development.
Located in the Ipswich suburb of Yamanto, the Yamato Central development looks to create over 500 jobs during construction.
Set to be anchored by a Coles supermarket and Kmart, the new Yamanto Central will house about 50 stores over 20,000 sqm.
Local infrastructure upgrades including extensive roadworks are a key component of the project, providing access improvements to the centre. 
Yamanto Central will include on car parking for 750 cars.
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Mainbrace’s involvement in the greenfield project south west of Brisbane and in the high growth area of Ipswich, adjacent to Amberley air base, began in 2017.
The company worked with DMA Partners and JMK Retail in an Early Contractor Involvement (ECI) capacity to ensure the concept design is build-ready and within budget.
“The new Yamanto Central will be a state-of-the-art shopping destination which will serve a vital function in the growing local community,” Mainbrace QLD State Manager Duncan McAndrew said.
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Mainbrace has recently signed nearly $90 million of new retail work in the state, with new projects for Charter Hall at Atherton, a new food store at Indooroopilly, Home Co at Springfield and the re-purposing of a former Masters bulky goods property at Everton Park.
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Retail builder Mainbrace appointed to construct Ipswich's Yamanto Central

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Okeland Communities (formerly Amex Corporation) has secured the sale of a South Ripley land parcel to the childcare operator Mother Duck. 
The $1.1 million sale of the 2,500 sqm site on Botany Drive, South Ripley was the first time Okeland had sold down non-residential land within the Providence community. 
Separate primary and secondary schools are already under construction by the State Government on a site adjacent to the new childcare centre and due to be opened for new students in 2020.  
The new Mother Duck centre, designed by Context Architects (above), will provide 180 spots with eight separate classrooms spread over three levels.
A Development Application has been submitted to Ipswich City Council for the final piece in the development of a major new education precinct at the Providence township in the Ripley Valley.
Okeland Communities Project Manager Michael Khan said, “With more than 1,000 homes and families the Providence community is now approaching critical mass for a range of community services and infrastructure."
“Providence is the heart and soul of the Ripley Valley, Queensland’s fastest growing corridor, and we look forward to delivering a town centre that provides our community with everything they need to live their very best life, he added.
The completion of the masterplan for the education precinct comes just weeks after the launch of a $3 million sport and recreation precinct with 4.5 hectares of playing fields, outdoor sporting equipment and shaded play areas for residents and sporting clubs.
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Okeland sell Providence, Ipswich site for new childcare centre

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The property guru Andrew Winter took less than he'd sought for his building block on Brisbane’s outskirts which quickly went under contract last month. 
The vacant 1100sq m <a href="https://www.realestate.com.au/property-residential%20land-qld-ipswich-202166850" target="_blank">Ipswich market</a> holding (pictured above) that cost $285,000 in late-2016, came with a price guide of $375,000 to $400,000 through Ray White agent Lisa Gill.
CoreLogic advise it fetched $350,000 for the longtime host of Selling Houses Australia, who also presents the Love It Or List It Australia series,
The official site value was $197,500 although the parcel has development approval for five, three-bedroom townhouses.
Winter and his wife Caroline have recently bought a $485,000 Paradise Waters, Gold Coast, investment house and a Portside Wharf apartment in Brisbane’s Hamilton that cost $255,000.
Just a year ago the Winters bought a $1.9 million Gold Coast home and, in between a busy filming schedule, they renovated the riverfront Tuscan-inspired five-bedroom house.
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Andrew Winter accepts less than asking price for Ipswich building block

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The charmingly blunt property guru Andrew Winter has been busy reshuffling his investment property portfolio.
The longtime host of Selling Houses Australia, who also presents the Love It Or List It Australia series, has bought two southeast Queensland properties while selling another.
His building block on Brisbane’s outskirts has quickly gone under contract. 
The vacant 1100sq m <a href="https://www.realestate.com.au/property-residential%20land-qld-ipswich-202166850" target="_blank">Ipswich market</a> holding (pictured above) that cost $285,000 in late-2016, came with a price guide of $375,000 to $400,000 through Ray White agent Lisa Gill.
The official site value is $197,500 although the parcel has development approval for five, three-bedroom townhouses.
Winter and his wife Caroline have recently bought a $485,000 Paradise Waters, Gold Coast, investment house and a Portside Wharf apartment in Brisbane’s Hamilton that cost $255,000.
Just a year ago the Winters bought a $1.9 million Gold Coast home and, in between a busy filming schedule, they renovated the riverfront Tuscan-inspired five-bedroom house.
It appeared to be a savvy buy for the recent Gold Logie nominee since the Sanctuary Cove home had traded at $1.6 million 13 years ago.
The couple, along with their two daughters, Daisy and Mia, and two dogs, Louis and Scooter, resided just across the road from their renovation project.
The redundant home sold for $1.2 million, having been bought at $975,000 in 2015. It, too, had been bought well as the home had traded at $1,025,000 in 2004.
Winter believes homeowners often face a stay-or-go dilemma. “We’ve all been there,” he suggests.
It was 2006 when he decided to call the Gold Coast home after more than 20 years in real estate in the UK. His job had morphed into presenting one of the most popular television programs across the UK and Europe. His work on the show also offered visits to Australia, which was where Caroline’s parents resided.
Earlier this year Winter was rushed to Gold Coast University Hospital where he was diagnosed with Bell’s palsy, a condition that affects facial nerves and muscle control, from which he has recovered.
This article first appeared in The Sunday Telegraph
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Property guru Andrew Winter reshuffles his SEQ portfolio 

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<div align="left">The quickest path for first time buyers to purchasing a house in Greater Brisbane is Ipswich, according to a report released this week by Domain.</div>
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<div align="left">The report noted first home buyer numbers have risen in Queensland, likely stimulated by the First Home Owners’ Grant, an incentive available for new homes valued under $750,000, providing a first home buyer $20,000.</div>
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<div align="left">Introduced in 2016, this measure was only meant to last for six months but was extended due to its popularity and as of 1 July, Queensland is set to reduce this grant to $15,000.</div>
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<div align="left">Indicative of Ipswich price potential, 3 Quarry Lane, Ipswich (pictured above) a 3 bedroom, 1 bathroom sold for $315,000 three months ago.</div>
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<div align="left">“In Greater Brisbane, the time needed to save for an entry level deposit on a house has increased by one month from last year, bringing the total time to 4.2 years, while the time to save for an entry level deposit for units fell by three months, to 3.3 years,” Domain noted.</div>
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Ipswich ranked the quickest FHB path to house ownership in Greater Brisbane: Domain

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<div class="wp-caption">An $182,000 sale in Brisbane's Ipswich region was the nation's cheapest weekend auction result.</div>
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<div class="wp-caption">It last sold at $199,000 in 2013.</div>
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<div class="wp-caption">The <a href="https://www.realestate.com.au/property-house-qld-brassall-128100166" target="_blank">5 Melbourne Street, Brassall offering</a> was three bedrooms on stilts on an 810 sqm block.</div>
"It's big, ugly and neglected but very recoverable and could be a real steal," was the marketing pitch.
The Raine &amp; Horne agent had notified interested parties that council planning indicates that some flood water did come onto a portion of the block in 2011 - about ankle deep at the lowest point of the block. 
Council records indicated that the flood water was 5.2 meters below the eaves of the home which had sold at $199,000 in 2013.
The official land value was recently put at $125,000.
 
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