Stockland has announced it will release nineteen lots at Providence Ripley as buyer demand surges across South East Queensland.

The first fifteen lots released last month sold out in just a few weeks amid a competitive buyers market

Providence Ripley is reaping the rewards of Queensland’s competitive housing market.

INCREASED demand by potential homebuyers has prompted the release of nineteen more lots at one of Ipswich’s most popular estates.

Stockland this week announced the latest release, revealing a handful of new blocks at Providence Ripley were sit to hit the market in coming weeks.

Project Director David Franklin said the move provided significant purchasing opportunities for individuals, couples or families looking to crack into a competitive housing market.

READ MORE: $195k lots for sale at booming Ripley estate

He said lots available in the latest release ranged from 350 to 567 square metres and started at $213,000.

“We’ve seen an increase in demand for land in Brisbane’s western growth corridor, predominantly from pre-approved buyers ready to build their dream home,” Mr Franklin said.

The developer behind Providence Ripley is releasing another nineteen lots in coming weeks.

The latest release comes off the back of January’s release of fifteen lots – all of which have now sold out.

It was the first land to be released under new owners Stockland following its shock acquisition of the 700-hectare project from former developers Okeland in January.

It is understood the project was sold for an eye-watering $193 million.

READ MORE: Booming Ripley estate sells for massive $193m

Mr Franklin said local buyer interest had continued to “strengthen”, though it had been matched with increased demand from potential buyers across the state.

“We’re seeing a rise in inquiries from potential buyers on the Gold Coast and inner Brisbane, attracted to the community’s key amenities and proximity to Ipswich and Springfield.”

Providence at Ripley is experiencing huge demand amid a competitive buyers market.

It comes as recent data revealed it was now more affordable to purchase property than to rent in Queensland.

This is reportedly due to government grants such as Homebuilder, created in response to COVID-19, and record-low interest rates.

Deputy Prime Minister Michael McCormack last month visited Ripley, revealing just how popular HomeBuilder had been.

READ MORE: Cutbacks won’t stop HomeBuilder boom for southwest corridor

He said at the time that applications for the grant had doubled since a three-month extension on the grant was announced last December.

Read more stories by Kaitlyn Smith here.

Originally published as Stockland has announced it will release nineteen lots at Providence Ripley as buyer demand surges across South East Queensland.