Bellbird Park leads price rise
IT'S close to Brisbane and only a step and a hop away from Springfield. That's right, you guessed Bellbird Park. This area is riding the property boom with a 20.8 per cent increase in the median house price to $256,000, which is reported in the Real Estate Institute of Queensland's (REIQ) December 2006 quarter results. It is set to boom as access routes, neighbouring infrastructure and the rise of Springfield and Springfield Lakes takes hold. LJ Hooker Goodna sales partner Chantelle Dooney said Bellbird Park was one of the cheapest areas to buy that was close to Brisbane. Miss Dooney said she received a lot of interest from buyers looking to settle in the Bellbird Park area. "The average house price is between $260,000 to $290,000 for a three-bedroom home," she said. "People seem to be willing to pay up to those prices." Bellbird Park's larger blocks are a great drawcard for families looking for that extra bit of space. The area's larger establishments have been recorded as topping the $300,000-plus mark. "A lot of people come into the agency and physically ask for Bellbird Park," Ms Dooney said. "I have four properties currently listed for sale with a few more coming in." Miss Dooney attributes the area's growth to its closeness to Springfield and its burgeoning developments. She said a lot of residents live in the area because they still have access to Springfield's many facilities yet appreciate the smaller price tags. Springfield is set to boom in the coming year with the establishment of the new Orion Town Centre, University of Southern Queensland and impending rail link which will draw even more people to the region. Booval, Brassall, Newtown or Collingwood Park prices have also boomed in the December quarter. The REIQ results show these are the areas with biggest positive change. Ipswich on a whole recorded a three per cent change and an annual increase of 6.5 per cent. Commenting on the data, REIQ chairman Peter McGrath said Logan and Ipswich remained the most affordable options for buyers in and around Brisbane. Ipswich REIQ zone chairman Peter Mendoza said he expected Ipswich's upcoming March quarter to have an even bigger swing in median house prices. Mr Mendoza said the quarter results don't always reflect the trends for that area and that the annual figure gives a more accurate indication. "It could just mean that more expensive properties were sold in that quarter," he said. "If you have five sales, the median price is the middle figure." On a whole, Ipswich was still a really good investment area especially with many of its new developments set to reach fruition in the next 12 months. "Generally areas that are handy to facilities, shops and schools are the usual ingredients for good investment," he said. And even though the figures showed poor results in Dinmore, Gailes and Tivoli, it does not mean these areas will not pick up as the year unfolds. Mr Mendoza said generally you found the areas that have not experienced any recent substantial growth were like a time bomb waiting to happen. "Just because one isn't performing well, doesn't meant it isn't going too," he said. "Growth looks pretty good for all of Ipswich in the mid to long term."