Springfield Lakes Property Market Carry On With its Fast-Paced Growth

Springfield Lakes Property Market
Photo Credit: Eugene Huang/Google Maps

The rapid growth and increasing number of infrastructure projects in Springfield Lakes have given first-home buyers more options to become property owners. Buyers are spoilt for choice in this suburb with a wide range of house sizes, which means there is something here for every potential property hunter. 


Highlights

  • Springfield Lakes has carried on with its rapid growth for the period of October 2020 to September 2021 with a 13.95 per cent house price increase.
  • Its unit market has gained a 16.99 per cent growth.
  • There were 509 houses and 110 units sold in Springfield Lakes within this 12-month period.

Springfield Lakes House Price Growth

Springfield Lakes’ growth, coupled with the current condition of the region’s property market,  which has been described by industry experts as the “perfect storm” with historically low interest rates and stock shortages, have driven prices upward at its fastest rate as buyers scramble to acquire the home of their choice.

Data from Property Market Updates shows Springfield Lakes pulling a 13.95 per cent house price growth for the period of October 2020 to September 2021, with the median house price nearly reaching the half-million mark at $490,000.  

Springfield Lakes House Price Growth
Photo Credit:  Property Market Updates

For this period, 509 houses were sold within an average of 38 days on the market and more than half of the sales have been for four-bedroom houses. Springfield Lakes buyers get more bang for their buck as most of the houses are still within reach of a single-income earner eager to invest in a property.



Springfield Lakes Unit Price Growth

The unit market in Springfield Lakes is as equally attractive as the housing market with a 16.99 per cent growth from October 2020 to September 2021. The unit median price is nearly the same as the house median price at $439,000.

Springfield Lakes Unit Price Growth
Photo Credit:  Property Market Updates

However, unlike house sales, there were just 110 units sold for this period within 68 days of listing on the market. Most unit buyers have preferred to acquire three-bedroom properties in luxury property developments, with some seeking investor-type apartments for future income incentives. 

About Springfield Lakes

Springfield Lakes is one of the fastest-growing communities in Australia with a population of 30,000 and a projected population increase of 138,000 by 2030. This astounding increase shows the popularity of the area for homebuyers. 

Photo Credit: Google Maps

Both young and established families love the lifestyle offered in Springfield lakes, where outdoor recreational activities are abundant. The suburb provides biking and walking trails next to a beautiful lakeside park whilst schools, playgrounds, dining options, and essential shops are all within easy reach. Commute to the city using public transportation is also accessible via the train station at Springfield Central. 

As part of a masterplanned community created within Greater Springfield, this suburb has a carefully developed mix of suburbian lifestyle, high-tech industries, and heaps of green spaces. Now, nearly two decades since its development, the suburb has also attracted stakeholders and investors in both the private and public sectors, providing more employment opportunities for the residents.



“We’ve lived in Springfield Lakes since October 2005 and now own two houses here. We love the parks, the trees, the layout of the suburbs and the shopping has everything you really need, with more on the way. There’s a good selection of primary, secondary and tertiary education facilities. The train will service the suburb by the end of 2013, so the public transport challenges will be resolved. In the meantime, we commute by car to the CBD every weekday and it takes between 35-45 min each way, and that’s door to door. With the Centenary Hwy duplication, it may be even quicker.”

Chrissy

“Lively and lovely suburb to live in. I have never heard of any crime in the area and statistics show that there is a low crime in the area. Very convenient good schools gd uni and hospital.”

Jek

“A year ago we moved over from New Zealand. Out of the hundreds of overwhelming Suburbs to choose from we narrowed it right down to Springfield lakes. One main factor was that we didn’t want to be anywhere near the City but wanted ample amenities that allowed us to do so. We were advised that Springfield Lakes was a part of a grand masterplan for Ipswich.

Kristy