Springfield Lakes Property Market Continues to Surpass Previous Records

Photo Credit: Google Maps

Despite the pandemic’s impact on many property markets, April 2021 to March 2022 has been quite a lucrative period for many investors in the Springfield Lakes property market, where home values have continued to surpass previous records.



Springfield Lakes House Price Growth

Figures from Property Market Updates for the period of April 2021 to March 2022 show that house prices in Springfield Lakes tracked a robust growth at 27.68 per cent. Home values have risen to a $565,000 median price compared to $442,500 last year. 

Springfield Lakes House Price Growth
Photo Credit: Property Market Updates

Some 671 homes were sold for this period within an average of 23 days, reflecting a busy and active market. Four-bedroom homes were very popular with investors, accounting for 435 completed transactions.

Springfield Lakes Unit Price Growth

On the other hand, unit prices for Springfield Lakes have tracked a slow but steady pace from  April 2021 to March 2022.  The median price for apartments is now at $442,900 with just a fragment of growth at 2.07 per cent compared to the previous period.

Springfield Lakes Unit Price Growth
Photo Credit: Property Market Updates

Only 119 units were acquired during this period, which was up the market for an average of 46 days. Because of the minimal price difference between houses and units, buyers are more likely to invest in a house than live in an apartment. Unit dwellers wouldn’t be hard-pressed to upgrade as well.

Springfield Lakes Property Market Post-Flooding

Despite the devastating February 2022 floods, impacted suburbs in Brisbane have shown high resilience. It took Springfield Lakes and other Brisbane suburbs three years to recover from the 2011 flooding, amidst the dwindling confidence in the market. 

However, more growth is projected in the next few months after the 2022 flooding. In fact, Springfield Lakes’ property market grew to 31 per cent between 2011 and 2022. The suburb continues to attract investors due to its growth potential. 

Photo Credit: Google Maps

Suburbs all across Brisbane haven’t seen a decrease in house prices for over a year, despite the calamity. Industry experts forecast a continuation of the favourable conditions smaller Australian cities have enjoyed due to affordability, heightened demand but low stock, and interstate migration. 

The growth will be supported by heaps of infrastructure projects in the coming years leading up to the 2032 Brisbane Olympics. The $1.8 billion South East Queensland City Deal will usher in the construction of a handful of train stations in residential growth areas in Springfield and Ipswich.  



“The area is very well planned, and has a great community spirit – there is always plenty to do and people to meet. There are a lot of plans for the future of the area too, which is promising and in terms of accessibility to the city, trains will be going to the area very soon and other transport is already in place if you don’t want to deal with CBD traffic.”

Em

“It is a FANTASTIC community. Very family orientated with great schools and childcare. People are just friendly here when you go walking around the lakes – and plenty of parks (the water park is wonderful for younger children). You will not regret living here.”

Happy