Nestled an hour from Queensland’s capital, Brisbane, Brassall has slowly grown into one of the Sunshine State’s most popular investment spots, with prospective buyers drawn in by steady growth and relative affordability.
The suburb, located within Queensland’s Ipswich region, was one of 18 Queensland suburbs recently named in the highly coveted Smart Property Investment Fast 50 ranking for 2024, which launched last week.
The report and ranking combined the insights of a 14-strong investment expert panel and recent housing performance drawn from open-source data, and it aims to give unparalleled insight into the Australian suburbs that are set for future growth.
Despite surging 22 per cent in the 12 months to January, Brassall remains a relatively affordable entry point for investors into the Sunshine State’s property market, with a median house price of $500,000 as of January 2023.
Despite being a suburb brimming with rich history, having been initially formed back in the 1850s, Brassall is flooded with modern amenities, including great transport links, connecting it to nearby Ipswich central business district and Ipswich Hospital within 15 minutes, as well as state capital Brisbane and wider parts of the Sunshine State.
Brassall’s association with Ipswich doesn’t end with its proximity to the region, with the suburb included as part of Ipswich Council’s jurisdiction, meaning the area’s population of approximately 12,000, as well as future residents, will benefit from several council initiatives enacted to inspire growth in the region.
These include the Ipswich Smart City Program, billed by council as a “bold, ambitious plan [for Ipswich] to become Australia’s most liveable and prosperous smart city”. Additionally, the region’s Local Government Infrastructure Plan is expected to include hundreds of future projects worth more than $3 billion in transport, parks, and land, running until 2046.
Casting a wider net, the Ipswich property market’s strong start to the year resulted in the region being voted one of “five affordable Aussie suburbs offering upside potential” by property group Hotspotting.
According to the group’s director, Terry Ryder, Ipswich has “been one of the fastest-growing regions in South-East Queensland” over recent years, with a number of major economic projects boosting the region’s prospects.
These include the $1.7 billion fast rail link, $12 billion Springfield community, $1.5 billion Springfield rail link, $1 billion Citiswich project, $2.8 billion motorway upgrade, and a $5 billion Australian Defence Force contract, highlighting the breadth of the region’s development.
A key factor boosting Ipswich’s economy is the presence of several billion-dollar enterprises within its borders, with Mr Ryder elaborating that these include “major national companies and government departments moving into the area”.
In his eyes, “other core elements of Ipswich’s appeal are accessibility, affordability, and infrastructure”, with the region well supported by several major transport links, including motorways and railways.
While the region is currently mouth-watering for investors, Mr Ryder explained its future prospects could far exceed its present standing, especially as long-term planning for the area included a “fast rail service between Ipswich and Brisbane, along with extended rail links from Springfield to Ripley and Ripley to Ipswich via Yamanato”.
Article source: www.smartpropertyinvestment.com.au