The Queensland suburb of Bellbird Park was recently named in the highly coveted Smart Property Investment Fast 50 ranking for 2024, which launched last month. The report and ranking combined the insights of a 14-strong investment expert panel and recent housing performance drawn from open-source data, and it aims to give unparalleled insight into the Australian suburbs that are set for future growth.
According to data from CoreLogic, the suburb, which lies just south of central Toowoomba, has performed exceptionally in a number of key investment metrics. Despite interest rates rising for much of the last 12 months, causing a market downturn that was at one stage compared to the global financial crisis, home prices in Bellbird Park, 30 kilometres south-west of Brisbane, soared 20 per cent.
Having begun its life in 1840 as a European settlement established for the region’s farming and grazing prospects, Bellbird Park has sprung into contention as one of Queensland’s most enticing investment prospects, with a relatively affordable $600,000 median home value and 4 per cent gross rental yields making the suburb an affordable, yet strongly performing, target for investors.
Following gentrification and development at the turn of the century, the suburb became littered with new housing estates and infrastructure, leading to an increasing population and diversified local community, which boosted the region’s standing as a family-friendly area.
The region’s housing stock is wide-ranging, comprising a blend of new and established homes with small single-family dwellings sitting at the smaller end of the size spectrum, while large, multi-bedroom family homes can be found within its boundaries.
Adding to Bellbird Park’s family appeal is the construction of an $85.5 million primary school in the region, set to open in 2024, which was recently announced by the Queensland state government. The project will deliver state-of-the-art facilities to the region and will be completed by the time the next school year rolls around.
Member for Bundamba, Lance McCallum, called the project “exciting”, adding the government’s intention to deliver “world-class education services” alongside a greater influx of frontline workers to the fast-growing community.
Charis Mullen, member of Jordan, added, “it is fantastic to see work underway on another state-of-the-art school in the growing Ipswich corridor”.
Alongside fantastic education facilities, Bellbird Park boasts a plethora of parks and recreational areas, including the Bellbird Park Sports Complex, which houses a range of sporting facilities, while the nearby Redbank Plains Shopping Centre gives residents access to a range of retail and dining options.
For workers in the region, the suburb is conveniently serviced by a host of transport networks, with several bus routes operating daily, while the Springfield Central Station connects Bellbird Park and surrounding neighbourhoods to Brisbane within an hour.
Motorists will be pleased to note several major highways envelop the suburb, including the Ipswich Motorway, Logan Motorway, and Cunningham Highway, which provide Bellbird Park residents with seamless access to Brisbane City as well as other pockets of the Sunshine State.
As part of the Ipswich City Council, Bellbird Park is set to benefit from the Ipswich Smart City Program, described by council as a “bold, ambitious plan [for Ipswich] to become Australia’s move liveable and prosperous smart city”.
The region’s Local Government Infrastructure Plan is expected to include hundreds of future projects worth more than $3 billion in transport, parks, and land until 2046.
Moreover, Ipswich was recently named as one of “five affordable Aussie suburbs offering upside potential” by property group Hotspotting.
Key to the region’s ranking are several infrastructure projects which boost Ipswich’s standings, including the $1.7 billion fast rail link, $12 billion Springfield community, $1.5 billion Springfield rail link, $1 billion Citiswich project, $2.8 billion motorway upgrade, and a $5 billion Australian Defence Force contract.
According to Hotspotting director Terry Ryder, Ipswich is one of South-East Queensland’s fastest-growing regions, with future growth set to be underpinned by these infrastructure projects.
Alongside the presence of multiple “major national companies and government departments” in Ipswich, Mr Ryder concluded that “other core elements of Ipswich’s appeal are accessibility, affordability and infrastructure”.
To see which other Queensland suburbs made the Fast 50, click here.