Framed by the Bremer River, this quaint suburb, just shy of booming Ipswich, has caught investors’ eye with its affordable prices and strong growth.
One Mile is one of 18 Queensland suburbs recently named in the highly coveted Smart Property Investment Fast 50 ranking for 2024, which launched in May.
The report and ranking drew on 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.
Much like the rest of the country, the post-pandemic performance of One Mile can be defined in a single word: booming. In the face of several severe economic headwinds, including, but not exclusive to, the Reserve Bank of Australia’s (RBA) cash rate hiking cycle began early last year, prices in the region shot up 30.9 per cent to $419,000.
A serene, family-friendly atmosphere punctuated by lush greenery provided by the Purga Nature Reserve and Mount Perry Conservation Reserve, all within touching distance of One Mile’s residents. Add into this delightful natural mix the Bremer River, which runs along the suburb’s base and flows through to the Brisbane River, and some might argue the region’s natural beauty outweighs its investment prospects.
Investors eager to enter the suburb’s property market are met with a plethora of dwelling options, including traditional Queenslander-style homes and single-family dwellings, two core ingredients of the One Mile property cocktail. Modern amenities support the region’s growing population, with world-class facilities such as the Ipswich Hospital and the University of South Queensland conveniently located barely a stone’s throw away.
Angus Raine explained the Ipswich region “finished 2022 with a bullet”, before sharing his belief the region’s momentum is unlikely to die.
“We expect this affordable region to continue to attract investors in 2023,” Mr Raine said.
Underpinning his astute insistence on the region’s potential is rental yields of 4.8 per cent exceeding those offered by southern states and the addition of “smart money” he expects will “flow towards Ipswich housing in 2023”.
Mr Raine believes average annual growth akin to the region’s average annual growth over the last decade — seven per cent — could continue in coming years.
Providing a fixed concrete foundation for One Mile’s growth moving forward is several key infrastructure projects either underway or in the pipeline across Ipswich.
Terry Ryder, director at Hotspotting — who ranked Ipswich as one of “five affordable Aussie suburbs offering upside potential” — heralded the region as “one of the fastest-growing regions in South-East Queensland” over recent years.
Major projects in the Ipswich region include the $1.7 billion Fast Rail Link, the $12 billion Springfield community, $1.5 billion Springfield rail link, the $1 billion Citiswich project, a $2.8 billion motorway upgrade, and a $5 billion Australian Defence Force contract.
One Mile’s presence firmly within Ipswich City Council’s jurisdiction means the region will become a beneficiary of the city’s Smart City Program, promised by the council as a “bold, ambitious plan” that possesses lofty ambitions to transform the region into “Australia’s most liveable and prosperous smart city”.
Complementing this dream is the region’s Local Government Infrastructure Plan, which forecasts the construction of hundreds of future projects worth more than $3 billion and encompasses developments in transport, parks, and land. The plan is set to run until 2046.
Furthermore, given Ipswich — and One Mile’s — proximity to the state capital and host of the 2032 Summer Olympics, Brisbane, the region is expected to reap incredible benefits from the ceremony. Ipswich was included as a host city in Brisbane’s proposal to host the illustrious games and, as a result, will have hosted some of the world’s most elite athletes within a decade, providing a further, much-needed boost to its international and domestic standing.
In celebrating the city’s involvement in one of the oldest sporting tournaments in human history, mayor Teresa Harding provided both prospective and current residents with a peek into the city’s future.
Casting a glance into her crystal ball, Mayor Harding shared predictions the region’s population is “projected to almost double to 435,000 residents over the next 10 years”, before adding Ipswich is “set to welcome an additional 330,000 community members to 2041”.
She explained: “Council is committed to building collaborative partnerships with all levels of government, and we are seeking federal support in the delivery of city-shaping infrastructure that will drive the economic recovery and safeguard quality of life for our residents.”
Article source: www.smartpropertyinvestment.com.au