Ripley, in Brisbane’s West reported record-breaking growth in 2018, leaving much of Queensland and the country behind, but we ask the question what is next for Ripley?
Partly completed and set to be Australia’s largest master planned community, Ripley is 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 revealed as one of the best suburbs to invest in 2018 and is continuing to impress in future projections with a projected population increase of over 30% in 2019.
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 it’s own.’
The median house price for greater Ripley currently sits around $400,000 up from $331000 in October of 2017 and is offering a gross rental yield of 5% which is continuing to attract investors given the very legitimate capital growth opportunities it has already and is continuing to offer.
Whilst Ripley impressed in 2018, 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 is ticking a number of boxes. With connecting train lines predicted for the near future and strong jobs growth Ripley is providing cash positive opportunities at affordable prices with a price growth ceiling that is uncommon for alternate areas offering 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 to Ripley?
Since Ripley’s declaration as a priority development area by the Queensland state government in October of 2010, the 46 square kilometre site has undergone a dramatic facelift since the rural location, home to only a few thousand people it 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 km drive to 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 be an outside the box investment win before the a 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 capitalise on numerous amenities, relaxed lifestyle, world class medicine and schooling offered with 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?