It’s no secret that property locations with plenty of modern infrastructure are attractive to both investors and owner-occupiers alike. It helps to drive both an increase in property values and high rental yields. This article highlights current, future and recently completed infrastructure projects that are boosting the ROI of properties in the Springfield area.
Major current and future infrastructure projects
Current and future infrastructure projects in Springfield and surrounding suburbs include:
- The expansion of the Springfield Parkway and Springfield Greenbank Arterial roads from two to four lanes, plus dedicated cycle lanes and accompanying shared pedestrian pathways. The upgraded road lanes are forecast to comfortably accommodate an additional 20,000 vehicles per day, significantly easing traffic congestion and improving commute times to and from the Springfield region.
- A public hospital facility being added to the existing Mater Private Hospital in Springfield Central. It is scheduled to be completed in 2026.
Major existing and recently completed infrastructure projects
$18 billion dollars’ worth of infrastructure projects have been completed in the Springfield region over the past three decades since it began as the largest master-planned community in the Southern Hemisphere. They include:
- The $80-million Brighton Homes Arena (Springfield Central Stadium) that was completed in late 2022. It seats 8,000 and is the home of the Brisbane Lions AFLW team. It will also be used as the venue for the modern pentathlon event at the Brisbane 2032 Olympic Games. The stadium’s facilities are not reserved for the sole use of professional athletes though. Its gym, pool, other indoor training facilities, childcare centre and events lawn can be used by the community all year-round.
- The $85-million Mater Private Hospital in Springfield Central that opened in 2015.
- The $1.2-billion Springfield Rail network that opened in late 2013.
- The building and subsequent expansion of the University of Southern Queensland’s Springfield Campus that welcomed its first students in 2007 and now offers over 150 courses.
The impact on property ROI in the Springfield region
All of these major infrastructure developments have helped to boost the ROI for savvy property investors in the Springfield area. For example, the table below shows the capital growth and rental yields for houses in two key suburbs in the region over the last 12 months and the last 5 years.
| Suburb | Capital Growth Last 12 Months |
Capital Growth Last 5 Years |
|---|---|---|
| Springfield | 12.1% | 82.8% |
| Springfield Lakes | 11.7% | 68.2% |
This table shows the rental yields for houses in those two suburbs over the same time periods.
| Suburb | Rental Yield Last 12 Months |
Rental Yield Last 5 Years |
|---|---|---|
| Springfield | 4.3% | 4.4% |
| Springfield Lakes | 4.5% | 4.6% |
Source: realestate.com.au and CoreLogic June 2024.
The good news is that both investment property and owner-occupier ROI is likely to remain healthy for the foreseeable future with the population of the Greater Springfield region forecast to double by the end of this decade, including in newly developing suburbs such as Spring Mountain.
How we help our landlords maximise their ROI at Purple Cow
Our property management team at Purple Cow is achieving remarkable results for our clients. For example, realestate.com.au figures show we are currently generating market rents that are an average of 11% higher for our landlord clients than competing agents, as well as 26% more tenant enquiries for our rental property listings. We do this via the superior services we provide to our landlord clients and tenants, including our 90-day pre-lease renewal process.
If you have an investment property in the Greater Springfield area or further afield in Brisbane, we would love to manage it for you. Or if you are keen to buy one, we can help you to find the right property and tenants to maximise your return.
Contact us today to find out how we can help you.
