Springfield Lakes Property Market Continues to Surpass Previous Records

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

Springfield Lakes Posts 20% Median Growth, Maintains Momentum

With heaps of new infrastructure projects and ongoing developments, including attractive housing for small to large families, Springfield Lakes has exhibited steady, sustained median growth of 20 per cent year-on-year as of the end of 2021. 

Highlights

  • The Springfield Lakes property market showed a 21.61 per cent median house price increase for the period January 2021 to December 2021, with the median ending the year at $529,000.
  • Springfield Lakes’ median unit price also increased by 17.26 per cent for the same period, at $440,900. 
  • Home values in Springfield Lakes are still very accessible to most families and inventory is available, so the market is tipped for more growth.

Springfield Lakes House Price Growth

From January 2021 to December 2021, Springfield Lakes gained commendable momentum with a 21.61 per cent growth compared to last year, according to figures from Property Market Updates. The median house price for this suburb has reached the half-million mark at $529,000, up from $435,000. 

Springfield Lakes House Price Growth
Photo Credit: Property Market Updates

House listings showed brisk and encouraging activity at an average of 29 days on market with 616 homes sold during this period. Most buyers have been quick to close deals for four-bedroom homes but a six-bedroom property was snapped up with the highest price at $1,315,000. 


Whilst the general housing market is expected to slow down, Springfield Lakes is projected to enjoy substantial growth in 2022, offering more opportunities for smart investors. House prices in this suburb are still accessible to many families as well, especially for those looking to reside away from the city. Surrounded by parks, schools and booming small businesses, Springfield Lakes provides the perfect lifestyle for those who relish in the outdoors. 

Springfield Lakes Unit Price Growth

The unit price for apartments or semi-attached properties in Springfield Lakes has also exhibited an uptick of 17.26 per cent from January 2021 to December 2021, with the median unit price at $440,900 by year end. 

Springfield Lakes Unit Price Growth
Photo Credit: Property Market Updates

Market listings, however, stayed an average of 58 days on market, with 127 properties sold for this period. Three-bedroom apartments had the most transactions.

Brisbane’s property market generally shows a wider gap between house and unit prices, making it harder for investors to upgrade. However, in Springfield Lakes opportunities to step up are still attainable with the small difference in prices between an apartment and a detached house. 

About Springfield Lakes

Springfield Lakes is part of the Greater Springfield location, the second-largest city to be master planned in Australia. Situated 30 minutes away from Brisbane CBD, this suburb in the western corridor sits on a rapidly developing hilly landscape which was a former eucalyptus foundation. 

Photo Credit: Google Maps

Developed with families in mind, Springfield Lakes has a lot of young, maturing and established couples who are either setting their roots or enjoying the prime of their lives in a suburb that has every convenience within reach. Schools provide a good selection for primary, secondary or tertiary education, including early education and childcare. Doctor visits are also accessible with established health services and more facilities in the planning and construction phases.  

There is always something to do in Springfield Lakes for residents who love walking, biking, kayaking or simply enjoying the tranquil natural surroundings with a picnic. At the parklands, markets, live entertainment, fitness, and crafting events for kids and parents take place regularly as well. The easy commute to the Orion Springfield Centre, the main hub of the community, allows residents to enjoy dining, shopping, and other activities with their families and friends.


“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 master plan for Ipswich.”

Kristy

“Springfield Lakes is a total package of everything, such as great schools, USQ, TAFE, shopping malls, greenery train service and much more!”

Hasanthi

“I have lived in Springfield from 2010 for a year. Bought a house in Springfield Lakes since 2011 and we live here till now. We love it. The parks are great, nice and big. We have been to many many suburbs and take my daughter with us to the parks, most suburbs parks are just not comparable with Springfield Lakes. So many schools to choose from, no trouble getting to a school, private schools (St. Peters) are cheaper than you pay near the city. Even so, none of them are better schools compared them with schools near Brisbane.”

Gabriel

Gabriel

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

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