We have talked before about the importance of looking at macro and micro indictors to help you determine where to buy an investment property. Here we look at an area in Brisbane called Greater Springfield. We like the area and have been recommending it to our clients for the last 2 years because it meets many of the macro and micro indictors that we use to determine where to buy. In particular, economic, employment and population growth, strong rental growth, low vacancy rates and billions of dollars in infrastructure spending.
Economy and Employment
- The job creation target for 2030 is 30,000 jobs within the Greater Springfield area, which works out at one job for every three residents.
- GE Finance has made a commitment to the area by moving their QLD headquarters to Springfield and investing $72 million in the process. This move will also create 1,000 new jobs.
- The Brisbane Lions AFL team is relocating to Springfield. This will include a new stadium and training facility.
- Access to 86% of Brisbane's metropolitan workforce in a 32 minute drive.
- Greater Springfield is in the Ipswich Shire of Brisbane, which is the fastest growing council zone in the country. Greater Springfield is the largest privately owned master planned community in the southern hemisphere, and it won the world’s best master planned community in 2010.
- The estimated current population of the six suburbs that make up Greater Springfield is more than 26,000 residents.
- The planned 2030 equivalent population is 105,000 residents. This is about the size of Darwin.
- The rental yields look good. It is a very tight market evidenced by vacancy rates for Augustine Heights, one of the suburbs within Greater Springfield, currently sitting at 1.8%.
Greater Springfield is the largest privately owned master planned community in the southern hemisphere, and it won the world’s best master planned community in 2010.
There have been literally billions of dollars spent so far on infrastructure with 13% of the infrastructure project complete. The estimated cost on completion is $23 billion. Some of the key investments are;
- A shopping complex that once completed will be one of the biggest in the country.
- An education precinct with a university and schools.
- The Mater Hospital, which is an $85 million facility commenced in October 2013.
- Two new train stations Springfield Central and Springfield Lakes recently opened in 2013. 12 months ahead of schedule to meet demand.
If you would like to know more about how to invest in Greater Springfield or how we determine where to invest please contact email@example.com