Long a quiet performer, buyers are now becoming aware of the big gains to be made in Collingwood Park.
Developed in the 1980s, the suburb located 11 kilometres west of central Ipswich has flown under the radar in decades past, but it is now getting the recognition it deserves as a family-friendly locale with infrastructure on the rise.
The Queensland suburb of Collingwood Park was recently named in the highly coveted Smart Property Investment Fast 50 ranking for 2024, which launched last month.
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.
Officially named and bounded in August of 1982, the Ipswich locality that also connects to Brisbane’s outer reaches is a hotspot for those seeking suburban space with good amenities. Bordering Redbank, it’s an easy distance from Collinwood Park to Redbank Plaza with its plethora of shopping and dining options.
Originally marketed as “The Dress Circle Suburb of Ipswich”, Collingwood Park had an early appeal to those seeking to live outside of the centre of action yet still benefit from city life. Developed with a keen desire to preserve the natural landscape, the area is known for its leafy streets and serene appeal.
As buyer’s agent Simon Loo described, Collingwood Park is known as an “established suburb with a gated community feel and manicured gardens being a common theme driving through the streets”.
Collingwood Park investors have recently benefited from a gross rental yield of 4.5 per cent while paying roughly $520,000 for a median house in the area and incurring an average of $450 per week in rent.
Over the past 12 months, they’ve enjoyed standout average growth of 22.1 per cent, while the average annual growth in the long-term evens out to a healthy 5.9 per cent.
Long an attractor to families, it will prove to be even more hospitable to those with kids when Collingwood Park State High School opens in 2025. It’s already home to two primary schools, though come next year, residents will have even more choice of educational institutions at their fingertips when nearby Bellbird Park primary opens in mid-2024.
Recreationally, there’s plenty to attract residents to Collingwood Park and its surrounds. The neighbourhood is actually delineated by Goodna Creek to the east and Six Mile Creek to the west. Along with the wider catchment area, these natural reservoirs have been found to be home to over 1,300 species of plants and animals, with approximately 90 per cent of those native species. Eagle-eyed residents can even be lucky enough to catch a sighting of the rare powerful owl or glossy black cockatoo.
As part of the Ipswich City Council, Collingwood Park is an integral part of the Ipswich Smart City Blueprint, described by the council as a “bold, ambitious plan [for Ipswich] to become Australia’s move liveable and prosperous smart city”.
The region’s 20-year infrastructure plan, currently in its infancy, is projected to include hundreds of future projects worth more than $3 billion in transport, parks, and land until 2046.
Moreover, Ipswich was recently named as one of “five affordable Aussie suburbs offering upside potential” by property group Hotspotting.
The region’s ranking is owed in large part to several infrastructure projects that boosted the city’s standings, including 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.
According to Hotspotting director Terry Ryder, Ipswich is one of South-East Queensland’s fastest-growing regions, with future growth set to be underpinned by these infrastructure projects.
Alongside the presence of multiple “major national companies and government departments” in Ipswich, Mr Ryder concluded that “other core elements of Ipswich’s appeal are accessibility, affordability and infrastructure”.
Article source: www.smartpropertyinvestment.com.au