Interstate buyers snap up houses in growth corridor
THE DEVELOPER of an Ipswich housing estate in one of the city’s population hotspots says interstate buyers are snapping up homes.
Stockland’s 2020 property survey found a third of houses sold in its Sovereign Pocket development in Deebing Heights were by people from outside Queensland.
Ipswich’s population is expected to rise from 222,000 to 558,000 by 2041.
About 70 per cent of that growth is set to happen in the corridor between Ipswich and Springfield.
Stockland says three-quarters of interstate buyers at Sovereign Pocket have come from New South Wales, with the next largest source coming from Victoria.
That trend is only expected to rise as border restrictions continue to ease.
Stockland senior development manager Dave Franklin said the estate’s location was proving to be a big pull.
It is seven km from the Ipswich CBD, 18 km from the centre of Springfield and is close to the Centenary and Cunningham highways.
“It is no surprise interstate buyers looking for affordable, high-quality new homes are turning their attention to south east Queensland,” he said.
“We’ve seen an interstate influx of upgraders and first home buyers looking to move to the sunshine state, as well as investors seeking better value for money than they could get in other markets.
“We expect the interstate trend to continue once borders reopen.
“Sovereign Pocket has also proven a hit with locals, many encouraged by HomeBuilder.
“A lot of the blocks of land in the community are eligible for the government grant, so it’s attracting strong interest.”
The Federal Government’s HomeBuilder scheme has been extended until the end of March next year but at a lower rate.
The scheme was providing $25,000 grants to build a new home or to cover renovations but it will now stand at $15,000.
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