Population growth begins to boom in Centenary Highway corridor as land prices rise
The boom has begun along the Ipswich stretch of the Centenary Highway.
The area, which stretches from Springfield to Deebing Heights, includes Ripley Valley which was recognised as a Priority Development Area in 2010.
That potential has become reality, with the corridor scoring a significant amount of the Ipswich region’s population, dwelling and future supply growth.
The Ipswich City Council planning and development department activity report for the July 2016 quarter found the suburbs with the greatest population and dwelling growth were Springfield Lakes, Redbank Plains (which is set to connect to the Centenary Highway), and South Ripley.
South Ripley was the “emerging suburb hotspot” for its 26 per cent population increase in just three months.
The Centenary Highway corridor is also set to feature strongly in Ipswich’s future population and housing growth with the suburbs featuring heavily in the 1181 new lots created by Ipswich council during the quarter.
The pipeline includes 276 lots at Springfield Lakes, 256 lots at Redbank Plains and 143 lots at South Ripley.
Property firm Oliver Hume has pointed to its own research that shows not only is the population growing along the Centenary Highway, but prices are too.
In the first half of 2016, the Providence masterplanned community has scored 170 registered sales.
The project has seen double-digit price growth for land in its medium to large blocks, with an average increase of 17 per cent from the launch in 2014 to the first half of this year.
For example, the median price for 600sq m blocks was $182,000 in 2014, and by the first half of this year the median was $230,000.
Providence Ripley project director Michael Khan said more than 90 per cent of buyers were owner occupiers.
“The strong sales activity at Providence is a real-world example of growing demand for design-oriented homes in desirable communities,” he said.