If you have owned property in the Greater Springfield area for a few years as either an owner-occupier or investor, then you’re likely to be pleasantly surprised by how much equity you now have. Having more equity in any property opens up a world of opportunities.
Understanding home equity
Home equity is the difference between the market value of your property and how much you owe on your mortgage. For example, if your home is valued at $800,000 and you owe $300,000 on your mortgage, your home equity is $500,000.
Take a look at the median prices for established homes in popular Greater Springfield suburbs and the surrounding area at the start of 2025:
- Springfield: $800,000
- Springfield Lakes: $765,000
- Augustine Heights: $805,000
- Greenbank:$851,000
Next, take a look at your latest home loan balance. The difference between the two amounts will give you an idea of how much equity you have in your Greater Springfield home or investment property. If you have fully paid off your home loan and own your home outright, your equity will be the market value of your home.
About two-thirds of established homes across Greater Springfield are owner-occupied, and one-third are investor-owned. For many home and investment property owners, their equity is their most significant financial asset and it can be a very powerful tool to achieve more financial goals.
How does home equity increase?
Home equity builds over time as you pay down your mortgage and as your property’s value increases. Greater Springfield’s robust infrastructure development as part of Queensland’s Western Growth Corridor—including new schools, shopping centres, enhanced public transport and community amenities—makes it a prime location for increasing property values.
As demand for property in the Greater Springfield region continues to grow with South East Queensland’s rapidly growing population, homeowners and investors benefit from increasing equity levels.
Smart ways to use your increased home equity
When you have more equity in your property, you have options that include:
- Selling your home or investment property and upgrading
This can be a good option if you have a growing family and need a larger home, or you simply want to upgrade to a newer home with features that better suit your current needs. It can also be a good option if you are an investor and you want to buy a larger property in Greater Springfield or elsewhere that has the potential to generate higher rental returns and capital growth over time, or to live in yourself. The good news is that you will be more likely to afford a larger, more expensive and potentially newer property in Greater Springfield or elsewhere if your current home or investment property equity has increased over time. When you cash the equity you have by selling your current home, your borrowing power to buy an upgraded home will increase. Most lenders will allow you to borrow up to 80% of the value of a home that you want to buy.
- Selling your home and downsizing if your needs have changed over time.
This can be a good option if you are an empty nester and no longer need the hassle of maintaining a larger home. For example, you may want to downsize to a townhouse or unit. The good news is that a smaller home is likely to be cheaper, so when you sell and unlock your Greater Springfield home equity, you may find that you can pay cash for a smaller home (or at least, significantly reduce your mortgage and repayments).
How our Purple Cow team can help
Like to find out more about the Greater Springfield property market, including how we can help you to sell your home and unlock your equity? The latest figures from realestate.com show that our Purple Cow team achieves selling prices that are an average of $73,000 higher than competing agencies in the Greater Springfield region via our state-of-the art sales and marketing campaigns. That’s a big difference!
Our dedicated team can also help you if you’re looking for stress-free and professional management of your investment property to maximise your returns.
Contact us today for an obligation-free chat and experience the award-winning Purple Cow difference for yourself.
