Springfield Lakes is the largest master-planned residential development in the southern hemisphere. It’s strategically nestled between Brisbane and Ipswich in South East Queensland’s Western Growth Corridor. Launched in 2000, it has now reached maturity with well-serviced infrastructure and every kind of amenity you might need.
Location, location, location
You know the old cliché that the 3 most important factors in real estate are location, location and location. Springfield Lakes certainly ticks those boxes! It’s just over 30 kilometres from the Brisbane CBD—far enough to be away from the hustle and bustle, but close enough to be convenient. Neighbouring suburbs to Springfield Lakes include Springfield, Spring Mountain, Greenbank and Augustine Heights.
Springfield Lakes is at the centre of South East Queensland’s Western Growth Corridor. This region has been formally identified for fast-tracking by the Queensland government to accommodate Brisbane’s rapidly expanding and sprawling population. The population in the Western Growth Corridor is forecast to double by 2030, and there are billions of dollars’ worth of infrastructure projects either under way or planned during that time.
Springfield Lakes infrastructure and amenities
Springfield Lakes has a diverse range of modern infrastructure and amenities, including:
- Easy access to the Centenary Highway (M5) for a 30-minute drive to the Brisbane CBD.
- The Spring Lake Metro neighbourhood convenience centre that houses a diverse range of essential services and stores, as well as the Springlake Hotel.
- The Springfield Lakes State School and the Good Shepherd Catholic Primary School.
- The Regatta Lake with its extensive recreational pathways, and plenty of open and family-friendly parkland space at Discovery Lake Reserve and Promenade Park.
- Public transport facilities via a dedicated Translink bus routes.
- A YMCA Community Centre.
The neighbouring suburb of Springfield Central has the major Orion Shopping Centre with over 80 retailers, as well as a train station, major sporting complex, university campus and private hospital, with public hospital facilities due to be completed by the end of 2024.
Springfield Lakes demographics
Springfield Lakes’ current population is just over 23,000. It’s popular with a younger demographic, including singles, partners and families. It’s a multicultural area with lots of tradies. The median age of your typical Springfield Lakes resident is around 30.
Many first home buyers see it as a stepping-stone area, and it’s also popular with rentvestors (first home buyers who invest in an affordable area and live elsewhere).
Springfield Lakes property trends
Significantly, Springfield Lakes is still a very affordable property market, unlike many South East Queensland property markets. That makes it attractive and accessible for both local and interstate investors (including rentvestors), as well as owner-occupiers. The market is split between property investors (43%) and owner-occupiers (57%).
There are just over 8,000 properties in the suburb, with the vast majority being 3 and 4-bedroom houses. Dual and multi-generational family living options are becoming more popular. Both single and double-storey options are available, and still being a relatively new suburb, Springfield Lakes homes have modern designs and features.
Springfield Lakes is also an active property market, with just over 12% of rental properties changing tenants and about 7% of all properties selling over the past year. Selling prices obviously vary based on the features of each property, but the median price for a Springfield Lakes house is currently about $715,000, and $540,000 for an apartment or townhouse. Both markets are currently experiencing double-digit annual price growth.
Market rents also obviously vary based on the features of each property, but the current median rent for Springfield Lakes houses is $580 per week, and $490 for apartments/townhouses. The average rental yield over the past 12 months is 4.5% for houses and 5.5.% for apartments/townhouses.
However, many of our savvy Purple Cow landlord clients in Springfield Lakes are achieving both above-average rental yields and above-average capital growth.
How Purple Cow helps Springfield Lakes real estate clients
Market figures compiled by realestate.com.au verify that our Springfield Lakes property management team generates 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 Springfield Lakes, we would love to manage it for you. Or if you are keen to buy a Springfield Lakes investment property, we can help you to find the right property and tenants to maximise your return.
We can also help you if you’re looking to buy or sell your property as an owner-occupier.
Contact us today to find out more.
