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Ipswich to be Queensland’s fastest-growing area over next 25 years

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IPSWICH is shaping to be Queensland’s fastest-growing city over the next 25 years, after recording the ­highest increase in residential dwelling approvals in the state.

The State Government and Ipswich City Council agree there will be an explosion in population growth and the most recent Australian Bureau of Statistics data supports this with dwelling approvals surging by 34.7 per cent since last year.

But they disagree on the number of jobs that will be generated in the city.

The state’s recent draft South East Queensland Regional Plan forecasts that 327,000 more people will call Ipswich home by 2041 (up from 193,000) but there will be only 65,000 new jobs.

It predicts a future city of commuters who travel back and forth to jobs in Brisbane.

That in itself creates infrastructure challenges through increased pressure on the already strained Ipswich Motorway and public transport system.

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While Mayor Paul Pisasale believes the State Government needs to urgently address these issues, his council pictures a future a lot different to the regional plan’s vision.

“I’m working towards 400,000 jobs, not 65,000,” Cr Pisasale said.

“Every day I say one thing in the morning, ‘create jobs, create jobs, create jobs’.”

While 400,000 is beyond a realistic scope, Cr Pisasale believes a higher proportion of the population can be employed in Ipswich by 2041.

To achieve their goal, council is encouraging expanded retail to meet population growth demands, a boost in entrepreneurship and growing existing industry strengths underpinned by Defence, food processing and transport.

The council plans to accommodate this around a series of employment hubs rather than a single CBD.

This week the council released the final blueprint for its $150 million Ipswich City Square renewal project, which will begin next year.

The council owns the majority of the buildings in the square and will demolish several to create an open space and entertainment precinct that is more of a recreational area than retail hub.

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“Every CBD around the country is struggling, so we decided to go for a city of centres,” Cr Pisasale said.

“We’ve given the city a heart transplant and are allowing other CBDs like Springfield, Ripley, Brassall, Yamanto and Goodna to develop as strong regional centres.”

Innovation is being encouraged through the council’s Fire Station 101 – a start-up incubator set up in the city’s old fire station this year. Sixty-one members have joined since March.

Commercial developers have responded to the increase in residential projects around the city.

“Next week alone I’m opening two new shopping centres in Ipswich,” Cr Pisasale said.

That includes the Redbank Plains Town Square, which has grown from about 6000sq m to 27,000sq m and will feature 67 stores including Coles, Target, Woolworths and Aldi.

FKG Group senior safety adviser Dan Turnbull said he had inducted 3000 workers on the site, which had about 220 construction workers at a time.

The construction jobs and retail jobs left afterwards are part of the ­answer to growing Ipswich’s economy, Cr Pisasale said.

“Ipswich has got to be part of a ­solution in southeast Queensland ­because if Ipswich doesn’t grow and other regional cities don’t grow, the city of Brisbane becomes congested,” he said.

“We’ve got to start taking some of the big industries like we are doing with TNT, DB Schenker, Northline, Bombardier.”

With hundreds of thousands of Ipswich residents predicted to be employed in Brisbane, infrastructure would need to be seriously upgraded.

“We will take this population but we can’t do it without some support and we need the infrastructure,” Cr Pisasale said.

“Public transport in Queensland is rubbish.

“You can’t stop the railway line at Springfield, you’ve got to keep it going to Ripley, you’ve got to keep it going to the RAAF base and then loop back into the city.”

RAAF base Amberley is itself undergoing a $1.5 billion upgrade and will be home to 2000 more base staff.

But already roads to the base are failing to meet the demand.

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The Sunday Mail understands the State Government is close to contributing funding to an upgrade of the Cunningham Highway between Yamanto and Ebenezer Creek.

It will deliver a new interchange, connecting the Cunningham Hwy, Centenary Motorway extension and Western Ipswich Bypass but would require federal funding.

The State Government has already set aside $200 million for Ipswich Motorway upgrades and $44 million in capital works projects at local schools.

It has also committed in-principle support for a major upgrade to the Ipswich Turf Club.

State Member for Ipswich Jennifer Howard said recent ABS data showing dwelling ­approvals to October had risen from 3428 to 4618 was proof of the city’s ­future and ability to create jobs.

“The great news locally is that Ipswich is leading the state,” she said.

City-within-city punches above weight

A BOOMING micro-economy has given Greater Springfield an unemployment rate that’s half that of Ipswich as a whole.

New analysis of the economic impact of the city-within-a-city shows that almost half of all the jobs growth in Ipswich over the past 15 years has been created in the private development.

“The heavy lifting has been done by us,” Greater Springfield Corporation founder and chairman Maha Sinnathamby said.

The jobless rate among the master-planned community’s 34,000 residents is 3.8 per cent, compared to 7.8 per cent across the Ipswich region.

The report by consultants Urbis says the 8800 jobs created in Greater Springfield between 2001 and 2016 account for 43 per cent of the region’s jobs growth in the same period.

Mr Sinnathamby, who turned 77 yesterday, said the community’s success demonstrated the power of establishing a private corporation to generate and implement a vision for growth.

“But only if it’s the right developer. You have to have a long-term commitment. You must have a social conscience and an obligation to building a better society.’’

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Now in its 25th year, Greater Springfield is on course for a population of 130,000 by 2035.

Mr Sinnathamby said it would be up to future residents to decide if they want to remain part of Ipswich or become a city in their own right.

While many large housing developments around the state were “parasitic’’ – feeding off infrastructure and facilities provided by ratepayers and taxpayers – 90 per cent of the investment in Greater Springfield was private money, Mr Sinnathamby said.

“A lot of money flows from here and is used to upgrade other parts of Ipswich.’’

The Urbis report says the $400 million of construction expenditure in the Greater Springfield/Redbank corridor during 2015-16 was the sixth highest per capita across the state, excluding Brisbane – outstripping cities including Townsville, Rockhampton, Mackay and Bundaberg.

Mr Sinnathamby said the total economic benefit generated by the community was $600 million a year, “and increasing at 18 to 20 per cent per annum’’.

Ipswich Mayor Paul Pisasale said: “Greater Springfield is a major economic powerhouse and one of our key regional centres,’’ but he said it was part of a bigger Ipswich story and should remain part of the city.

“The last thing people want is more politicians.’’

The growth across the whole region was ‘’incredible’’ and Ipswich’s expansion was lifting the pressure off Brisbane. The emerging Ripley Valley would be even bigger than Springfield.

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Originally Published: http://www.dailytelegraph.com.au/

 

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Real estate market in southeast Queensland has made a comeback since the GFC

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queensland tourist

While the property market has come back on the Sunshine Coast, there are still some bargains to be had. Picture: Lachie MillardSource:News Corp Australia

LAST week with the family in tow, we ventured up the Bruce Highway to the Sunshine Coast.

I was calling auctions at Maroochydore for a number of offices on the coast, so we decided to mix business and pleasure and make a holiday out of it.

It was no small auction event either. The offices had amassed 66 properties from entry level units, canal front homes and even beach front penthouses!

I was calling the auctions with my regular coastal auctioneering partner Dan Sowden, principal at Ray White Maroochydore and the day was decorated with highlights.

But the value on the Sunshine Coast, and again the Queensland market, for me was an absolute stand out.

Bidding on one apartment in particular, 119/223 Weyba Rd, Noosaville, paused at $85,000. It’s a studio apartment and while it wasn’t sitting next to, Sails, on Hastings Street, it’s not in the middle of nowhere either.

I couldn’t believe the numbers I was calling out. When no one pushed beyond $85,000 we made the recommendation to pass the property in and I see it’s now listed at $102,000. Unbelievable!

queensland tourist

119/223 Weyba Rd, Noosaville is now listed for $102,000. Picture: realestate.com.auSource:Supplied

We also sold the million dollar plus penthouses and the glamour properties too. It took us about six hours and the event was filled with excitement and drama.

But it’s the value story that I think will surprise many people, it certainly surprised me.

The Sunshine Coast has a relaxed holiday lifestyle, it has amazing beaches and world class restaurants.

So with all that on offer there will always be multimillion-dollar homes on the Sunshine Coast, but sub $100,000 properties, even sub $300,000 properties are a genuine reality for the discerning buyer

Every school holiday, and as we step closer to Christmas, many Aussie’s will do what we did this week and head to the beach. They will likely have had to pay a peak season rate for their accommodation and quite often that can spark the idea of buying a holiday house.

The Sunshine Coast was one of the hardest hit markets in the GFC, this impact is still showing value today. If the dinner table conversation involves a coastal retreat, before you squash it on account of affordability, I’d head to realestate.com.au or grab a copy of the Sunshine Coast Daily, you too might be surprised by the value, there appears to be property for all budgets.

Originally published as Coast tourist hot spot where bargains can be found

Source:www.news.com.au

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Where you can rent in Brisbane for only $400 a week

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rent in brisbane

While renters in southern capitals such as Sydney and Melbourne worry about how to pay each week – let alone how to save a home deposit – Brisbane tenants can affordably rent within cooee of the city.

Domain Group data shows that there are 14 suburbs in the Brisbane City Council area with median rental prices of just $400 per week.

While renting an affordable unit can see you living within a couple of kilometres of the CBD, middle-ring houses in suburbs such as Upper Mount Gravatt and Oxley can also be leased affordably, according to the data.

brisbane rent
Mount Gravatt, on Brisbane’s south side, is one suburb where you can rent a house for $400 a week.

Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella said Brisbane offered tenants the “best of both worlds” due to the affordability of desirable rental locations.

“Probably one of the strongest benefits is that you don’t have to go very far from the CBD to reach an affordable price point,” she said.

“Suburbs such as Bowen Hills, Cannon Hill, Kelvin Grove, Morningside and New Farm are all well serviced by public transport and are all within five kilometres of the CBD – you would never get that in Sydney or Melbourne.”

Some of the suburbs have more than just proximity to the city to offer, she said.

rent in brisbane
Morningside, in Brisbane’s east, offers great value for tenants.

Kelvin Grove has some of Brisbane’s best schools and is very well serviced with public transport options, Ms Mercorella said.

“Springfield Lakes is one of the most popular new areas, and at the last Census was one of our fastest growing regions in Australia,” she said.

“It is a master-planned community that offers families a lifestyle option – lakefront living with a community feel.

“Morningside is a suburb in transformation, with a number of new small-lot developments renewing the area. It is also a suburb in close proximity to the prestige Hawthorne and Bulimba pocket at more affordable prices.”

Ray White New Farm’s Haesley Cush said inner-city tenant demand continued to grow strongly, with unit rental prices softer due to the ample supply of new apartments that had hit the market.

rent in brisbane
Tenants have the upper hand these days in Brisbane – a positive side effect of the apartment oversupply.

“Developers were so intent on letting out their properties because they had rental guarantees … that incentives came into the rental market for residential property for the first time in as long as I can remember,” he said.

“That put downward pressure on mum and dad investors with older units to compete with a brand-new unit where the developer not only has a better product in a lot of ways, but they were also offering incentives.”

Mr Cush said the new competition resulted in rents falling by about 30 per cent in New Farm. Lower interest rates were lessening the financial impact on landlords, however.

With supply of new units still high, most landlords were opting to retain their existing tenants and slowly increase the rent over time rather than take a punt on the open market, he said.

rest in brisbane
Brisbane’s median rent price is $400 a week.

Mr Cush said southern buyers and renters were starting to stake their claim on the Brisbane rental and sales markets.

“I do think they won’t return once they get up here. The weather is better, school fees are cheaper, and it’s not the compromise in lifestyle for the difference in price,” he said.

“It does have less people, you don’t get as good a meal on a Monday, Tuesday or Wednesday, and you can’t dine after 9.30pm still in most places, but for what is in some cases half the rent and sales price, we’re not talking about half the lifestyle.”

Source: www.domain.com.au

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SEQ begins big push for a billion-dollar City Deal

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SEQ begins big push for a billion-dollar City Deal

Queensland Premier Annastacia Palaszczuk (left) and Treasurer Jackie Trad are pushing for a City Deal for south-east Queensland.

Photo: AAP/Dan Peled

Political delays dogging infrastructure projects will be history if talks on Tuesday morning cement a new billion-dollar 15-year City Deal for south-east Queensland between all three levels of government.

Such a deal could benefit 3 million people catching trains and buses, driving on highways, building businesses, looking for housing, and finding school and universities between the Sunshine and Gold coasts and west to Toowoomba.

Deputy premier Jackie Trad and Brisbane’s lord mayor Graham Quirk will on Tuesday morning outline how close the 10 south-east Queensland councils – Brisbane, Ipswich, Logan, Moreton Bay, Redland, Scenic Rim, Somerset, Sunshine Coast, Toowoomba and Lockyer Valley – are to signing Australia’s largest City Deal with the federal government.

Australia now has three City Deals backed by the federal government: Townsville (2016), Launceston (April 2017) and Western Sydney (March 2018).

Cr Quirk, the chairman of Council of Mayors (SEQ) that represents the region’s local governments, described a City Deal for the area as “a dramatic change”.

“The power of aligning the efforts of all levels of government and securing a long-term program of investment in our region will be a game changer,” Cr Quirk said.

“For the first time, all levels of government will be working in unison to protect and enhance the prosperity and liveability of south-east Queensland.”

SEQ begins big push for a billion-dollar City Deal
Brisbane’s lord mayor Graham Quirk begins a campaign for a City Deal funding package for 10 councils on Tuesday morning.
Photo: Fairfax Media

A City Deal binds the three levels of government — federal, state and local — as a group to agree to a 15-year rolling funding program of infrastructure projects that a fast-growing region needs.

As projects provide a lift in land value, that financial uplift is identified, captured and then re-invested into the infrastructure funding pool, under a model first identified in Manchester in 2012 and then in Brisbane in 2014.

In April 2018, Cr Quirk and Ms Trad met the federal government’s new Cities and Urban Infrastructure minister Paul Fletcher, when they first put forward the SEQ City Deal.

All parties described those 2018 talks as “positive”.

Cr Quirk and Ms Trad will begin the public push for the SEQ City Deal at a business breakfast at Brisbane’s Convention and Exhibition Centre on Tuesday.

“We secured Australia’s first ever City Deal in Townsville, which is paying dividends with projects like the North Queensland Stadium, delivered through the City Deal,” Ms Trad said.

“That is under construction and on track to be open for the start of the 2020 NRL season.”

Townsville’s City Deal is a 15-year arrangement, while Launceston’s is a five-year deal and Western Sydney’s is a 20-year deal.

The federal government is tipped to announce City Deals for Geelong and Darwin by September 2018, allowing planners to work on Hobart, Perth and south-east Queensland over 18 months.

How could it help?

It locks in project funds over 15 to 20 years, moving them away from political promises, which are subject to election outcomes. It could remove election squabbling over the same project.

It sets out a timetable for  projects allowing the private sector to invest more confidently.

It could help the next generation of infrastructure projects, after the Pacific Motorway, Cross River Rail and Brisbane Metro projects were all delayed by politics, angering voters.

It has also been mentioned as a way of funding Moreton Bay’s new university campus at Petrie and breathing life into the Brisbane River’s Resilient Rivers proposal.

What is Townsville’s experience after 18 months?

The Townsville City Deal was signed on December 9, 2016. It is a 15-year agreement.

Work has begun on stage two of the 25,000-seat $250 million North Queensland Stadium. It will be finished for the 2020 rugby league season. It is funded by the federal and state governments, and Townsville City Council.

The Queensland government has promised $250 million for new water supply for Townsville.

A business case for new Townsville Port facilities is almost finished and the Queensland government has pledged $75 million for port upgrade.

Townville mayor Jenny Hill said choosing the right projects was essential to make a City Deal effective.

“The City Deal provides a roadmap for delivery that breaks the political cycle so it is very important to choose the right projects or areas for reform that will make the biggest difference to a city or region,” Cr Hill said.

“All three levels of government also need to buy into the key priorities of the local area that are included in any City Deal.”

SEQ begins big push for a billion-dollar City Deal

Townsville Mayor Jenny Hill on top of Castle Hill with Townsville in the background.
Photo: supplied

SEQ City Deal – the background

  • May 2012Co-funding model idea began in United Kingdom.
  • June 2015: Queensland prepares its own case for City Deals after Ms Trad looked at the UK City Deals idea in Manchester.
  • 2016: Council of Mayors (SEQ), Queensland Property Council and the Queensland government put a plan together.
  • November 2016: Queensland Premier Annastacia Palaszczuk signed a memorandum of understanding with prime minister Malcolm Turnbull in November 2016 to develop “tailored City Deals” for Queensland.
  • February 2017: Ms Trad and Cr Quirk wrote to then-federal cities minister Angus Taylor, agreeing to a joint submission.
  • Late 2017: A Cities Transformation TaskForce established in Brisbane.
  • June 2018: Queensland’s major contractors called for a City Deal.

Source: brisbaneinvestor.com.au

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