Ray White’s Mark Creevey on ‘historic’ high levels of Ipswich real estate sales

The western corridor is hot property with developers from Melbourne and Sydney eyeing it off. Here’s why it is in such high demand.

A leading Queensland real estate agent says interest in land in the western corridor is at “historically high levels” with several huge lots already approved or destined for residential development on the market.

Ray White is currently handling the sales of a number of sites across Ipswich ranging in size from 3.7 hectares in glitzy Brookwater to 153 hectares in rural Fernvale.

Ray White Special Projects Queensland principal Mark Creevey said strong interest was coming from Sydney and Melbourne buyers.

Mark Creevey and Tony Williams from Ray White. Photo: Steve Pohlner

The firm is handling the sales of a 153 hectare block in Fernvale with approval for 1447 lots next to a sold out housing estate, an 18 hectare site in Ripley designated for future urban infrastructure, 22.6 hectares at Rosewood with plans for a 105-lot subdivision and a 42 hectare site at Lowood which had approval for 339 lots recently lapse.

The land at Brookwater up for sale overlooks the Brookwater Golf Course and Country Club and provides an “opportunity to partner with one of Australia’s most successful developers to deliver flagship residential project”, according to Ray White.

“Interest in residential development site opportunities in what we refer to as the western corridor is at historically high levels,” Mr Creevey said.

A 22.6 hectare site in Rosewood has plans for a 105-lot subdivision.

“This is evidenced by the high number of inquiries, inspections and offers received through recent marketing campaigns.

“The high levels of activity in these key metrics drives competition which is resulting in strong pricing and improved terms and conditions.

“Depending upon the scale of the offering we are receiving interest from all of the major listed property groups as well as small, medium and large development and house building companies.

“In terms of geography there is new interest from a range of Melbourne and Sydney based buyers as well as a large number of southeast Queensland-based groups.”

This 153 hectare block in Fernvale has approval for 1447 lots.

Mr Creevey said the Ipswich region is one of the most affordable in the southeast and there is more opportunity in terms of available land supply than other areas in and around Brisbane.

Existing infrastructure such as schools and hospitals and major roadways were also seen as key to strong growth.

“The strong interest in the region from the development sector is driven by confidence in the area to achieve consistently strong rates of sale for completed residential product,” Mr Creevey said.

18 hectares for sale in the rapidly growing Ripley Valley.

“Consumer demand for new housing whether it be owner occupiers or investors has grown considerably with most development groups anticipating that this will continue over a longer term.

“A market response to Covid-19 has seen the trend of buyers moving from inner urban to suburban communities with the ability to work from home more readily accepted.”

Read more stories by Lachlan McIvor here.

Originally published as Ray White’s Mark Creevey on ‘historic’ high levels of Ipswich real estate sales