Springfield Lakes - new station, hospital, shopping??

[SansProp]

Springfield Lakes - new station (2013), hospital, Orion shopping centre extension.

A few questions - all input and comments will be most welcome - especially from those who have an interest in the area or similar experience in other areas:

1. To what extent do you think the above developments will affect the recovery of the property market in this area?
2. Do you think the property market in the area has bottomed out or will it fall further?
3. Is it worth holding IP to try and recover some of the loss
4. If yes to 3. the minimum period to hold for.

Thanks.

 

[Povesa]

I have a couple of IPs in Augustine Heights (original estate) - not too far away from Springfield Lakes. It seems like a lot of infrastructure is coming in and some big projects are already under construction, like train line, new schools, shopping centres, etc. Not sure if similar scale of infrastructure construction is currently underway anywhere within 30km radius from Brisbane CBD. So it all looks promising.
However, there seem to be two negative things for the market: 1. General perception of the area being too far away from CBD (hopefully, it’ll improve once the train line and Legacy Way Tunnel are completed), 2. A lot of new housing estates are coming on the market.
All in all, the area won’t suit a short-term investor, but should be Ok in medium to long term.

 

[A'PEXi]

There's also a fairly new shopping centre around there along with a data centre. As mentioned above, more development to be had in the area as well. If you hold on long enough there may be some growth.

 

[dammit]

Springfield Lakes, Greater Springfield, Springfield Central etc:

I have lived in Springfield Lakes for 12 months now, and believe infrastructure and growth is one of the best in Qld.

Yes prices have dropped in Springfield and everywhere close by, investment property wise if you hold for another 4+ years my opinion is there will be exceptional growth in rents and values. You need the infrastructure put in and land to be sold and the city to sprawl to bring your value up.

In the short time I have been here I have seen in 12 months:
Masters Hardware construction and opening
$30m Robelle Domain parkland open
Construction commence on the 5km rail line to link Springfield to Richlands Station and the Brisbane train network.
New interim rocket bus implemented in the mean time
St Peter Lutherans private school build a new campus 4 stories high
University of Southern Qld get $50m in grants and buying buildings
Coles buying land to build a suburban shopping area Inc servo at springfield greenbank rd/grande ave servicing the newer estate areas.
Central Walk and Tea Trees estates land prep finish and new parks.
Catholic school ready to be built on grande avenue.
Road network near HealthCity underway, partitioning for a hospital now.
Orion Shopping Centre (mirvac) lodging a DA for stage 2 construction.

For a place with currently only 13,000 population (Springfield lakes area) or ~20,000 for Greater Springfield this level of infrastructure and development is astronomical.

The reason it moves ahead so quickly is because the original owner of the land before subdivision Maha Sinnathamby is willing to donate land to schools, rail lines, churches etc. This helps things get done a lot quicker. Government support for this area has also been extremely good on both a local and state level.

 

[Ed Barton]

Yes prices have dropped in Springfield and everywhere close by, investment property wise if you hold for another 4+ years my opinion is there will be exceptional growth in rents and values. You need the infrastructure put in and land to be sold and the city to sprawl to bring your value up.

i can't see prices doing anything but tracking the Brisbane wide general direction. there is just too much land around that area available for development and when it all runs out (20yrs?) the government will flog off the military camp.

 

[dammit]

I don't disagree with your statements one bit, it's what we are already seeing. They have no problems with developing more land and sprawling the city, this is one main point that is currently stopping values from climbing at present. In the future I am hoping values start to rise for those with land closest to the amenities (Shopping Centre, Train Station, Highway etc)