The flood of interstate migrants driving Queensland’s population boom continues to set their sites on Brisbane’s western growth corridor, driving up demand for land in the area and prompting developer HB Land to accelerate the release of the latest stage of the 577-lot Bellevue master planned community.
New population data from the Australian Bureau of Statistics (ABS) shows Ripley added more new people than any other suburb in Queensland, with an extra 2,700 people in the 2021-2022 financial year. This was an increase of 21% over the previous year and represents nearly 2.5% of Queensland’s total population growth of 109,000.
The continued demand for housing in the area has prompted HB Land to bring forward the release of its next stage of the project with 20 new homesites priced from $290,000 to be released to the market from this weekend (June 24).
HB Land CEO Michael Vinodolac said the new release, dubbed Bloom Release 2, would capitalise on the increasing demand for affordable land from local upgraders and interstate migrants.
“While the population has grown incredibly in recent years, the simple fact is demand still outstrips supply, and we are confident the new release will sell out quickly,” he said.
“Ripley remains very affordable compared to other areas of south-east Queensland and is attractive to a range of buyers, including first home buyers, upgraders and interstate and overseas migrants.
The Bellevue project is strategically located close to major employment hubs, shops, schools and recreation opportunities and will be built over 18 stages. HB Land has engaged Oliver Hume to undertake sales and marketing for the project.
Oliver Hume’s recent Quarterly Market Insights (QMI) report for the three months to the end of March showed the median lot price in the Ipswich LGA rose 6.7% to $320,000. Over the last five years, Ipswich land prices have surged 55%.
The median value rate, or $ per sqm, in Ipswich was $762 in the March quarter, the second lowest rate after Logan ($692/sqm).
Oliver Hume National Head of Research George Bougias said the growth corridor between Brisbane and Ipswich remained one of the most popular destinations for buyers looking for affordable house and land packages in south-east Queensland.
“In terms of value for money, it is hard to go past the Ipswich LGA,” he said. “There is now extensive infrastructure including schools, retail, transport and lifestyle facilities within easy driving distance, and the Brisbane CBD is only 40 mins away.”
“There is a reason so many locals and interstate migrants are choosing to head west and make a new life in the Ripley Valley, and we would expect that trend to continue.”
Bellevue’s location at 357 Ripley Road, Ripley, is around 40 minutes from the Brisbane CBD, 15 minutes from Springfield City or 10 minutes from Ipswich CBD.
The name Bellevue comes from the French translation of ‘beautiful view’, which represents the elevated offering coupled with the family-friendly nature of the neighbourhood vision.
Potential buyers can register interest in a Bellevue lot by contacting 1800 777 787 or visiting bellevueripley.com.au