Ripley Real Estate – Is Ripley the fastest growing Brisbane Suburb?
Ripley, in Brisbane’s west (Ipswich), has reported record-breaking growth, leaving much of Queensland and the country behind, but we ask the question: what is next for Ripley Real Estate?
Ripley Real Estate is transforming before our very eyes as Ripley is set to be Australia’s largest master-planned community. Ripley, located only minutes from the booming Springfield CBD, is already impressing investors as an opportunity to capitalise on future growth.
In a report released by Corelogic; ‘Ripley was one of the best suburbs to invest in and is continuing to impress in future projections with a projected population increase of over 30% in the coming years.
The fledgling suburb reported an annual capital gain of over 18% making it one of Queensland and Australia’s highest growth suburbs with growth set to continue albeit more modestly as the satellite city becomes a destination of its own.’
The median house price for greater Ripley Real Estate currently sits around $460,000, up from $331000 in October of 2017 and offering a gross rental yield of 5%, which is continuing to attract investors given the very legitimate capital growth opportunities it has already offered and is continuing to offer.
Whilst Ripley Real Estate impressed in the early years, what makes interested investors think it will continue this record growth? Although we might not see another rise of 20% in a year in the next few years, a combination of population growth, newly completed infrastructure, unprecedented planning, and a location that is set to benefit from the growth of surrounding suburbs ticks a number of boxes. With connecting train lines predicted for the near future and strong job growth, Ripley is providing cash positive opportunities at affordable prices with a price growth ceiling that is uncommon for alternate areas offering a similar yield.
Approved for up to 50,000 dwellings It will be Queensland’s biggest housing development and Australia’s largest ever master planned community.
Why are investors looking for Ripley Real Estate?
Since Ripley’s declaration as a priority development area by the Queensland state government in October 2010, the 46 square kilometre site has undergone a dramatic facelift since the rural location, home to only a few thousand people, was those nine years ago.
Approved for up to 50,000 dwellings it will be Queensland’s biggest housing development and Australia’s largest ever master planned community. Australian Bureau of Statistics projections predict 120,000 plus residents in Ripley by 2040.
The mega project with an estimated cost of 1.5 billion being Ripley Town Centre has already completed Stage 1 offering a number of shopping and lifestyle options to residents In the short term whilst simultaneously future proofing the suburb for the inevitable growth.
Early concerns met by similar master planned communities such as nearby Springfield which was met with a number of concerns including lengthy travel times to nearby cities and a lack of public transport are gradually drifting away.
Ripley is a 40-kilometre drive from the Brisbane CBD, generally taking around 40 minutes, with nearby Springfield and Ipswich a 10-minute drive. The lack of immediate public transport hasn’t seemed to hinder property sales, with a Springfield-to-Ripley railway extension expected to begin development to meet the demands as the population continues to grow.
Could Ripley real estate be an outside-the-box investment win before the jobs and population driven boom? The high capital growth reflects a population of residents who have moved to Ripley by choice and not by the necessity of affordable housing options, opting to capitalize on the numerous amenities, relaxed lifestyle, world-class medicine, and schooling offered in the Greater Springfield region.
We are excited by Ripley and surrounding areas continued growth and development and believe it is a must consider for any potential investor, what do you think?
If you have enjoyed articles about Ripley Real estate and others like this, check out our Review on the Top 5 Property Managers in Brisbane HERE