New affordable land lots from $290,000 fast tracked

A developer has accelerated the release of affordable land lots in the second stage of his new Greater Brisbane community amid a resurgence in demand for blocks to build on.

HB Land CEO Michael Vinodolac said the Bloom Release 2 in the 577-lot Bellevue master planned community was expected to draw local upgraders and interstate migrants who continue to zero in on the western growth corridor.

“While the population has grown incredibly in recent years, the simple fact is demand still outstrips supply, and we are confident the new release will sell out quickly,” he said.

Bellevue is located at 357 Ripley Road, Ripley in Ipswich. Ripley has been a magnet for buyers throughout the pandemic, with an extra 2,700 people added to the suburb in the 2021-22 financial year alone.

“Ripley remains very affordable compared to other areas of southeast Queensland and is attractive to a range of buyers, including first home buyers, upgraders and interstate and overseas migrants,” Mr Vinodolac said.

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Groundbreaking work on the Bellevue site last year.

Sales and marketing for the 18-stage Bellevue project are being handled by Oliver Hume, whose national research head George Bougias said “in terms of value for money, it is hard to go past the Ipswich LGA”.

“There is now extensive infrastructure including schools, retail, transport and lifestyle facilities within easy driving distance, and the Brisbane CBD is only 40 minutes away.”

“There is a reason so many locals and interstate migrants are choosing to head west and make a new life in the Ripley Valley, and we would expect that trend to continue.”

Oliver Hume’s recent Quarterly Market Insights report found in the last five years, Ipswich land prices have surged 55 per cent, with the median lot priced at $320,000 at the end of March and the median value rate ($ per sq m) at $762. It was the second lowest rate behind Logan’s $692/sq m.

Article source: Queensland Property Investor