Springfield revealed as the real centre of Brisbane’s population growth
New figures have revealed exactly which area in the Western Corridor is experiencing a population boom, with the news seen as music to the ears of a sombre retail sector.
In the past five years East Ipswich, with Springfield as its centre, has experienced the third highest growth rate of 132 Statistical Local Areas (SLA) across Australia with a 2010 estimated residential population of more than 50,000 people.
Springfield Land Corporation Business Development Manager Sean Ranchigoda said with an average annual growth rate of 6.6% p.a. it was the only region in this state to make the top five nationally.
“By 2030 the population in Springfield is projected to reach 105,000 and already we have a pretty clear picture of the sort of retail outlets those residents will be likely to need and want,” Mr Ranchigoda said.
“The most recent Census data shows that the demographic of people who visit the Springfield Bulky Goods Main Trade Area (MTA) are young families and first home buyers.
“More than 80% of customers are family households, approximately 8% higher than the Brisbane average.
“What this tells retailers looking seriously at the Western Corridor is that potential customers are part of a younger demographic and they are first home buyers in the early years of the family lifecycle.
“In addition, the recent data shows that almost 94% of all homes within the MTA are detached separate houses, which is 14% higher than the Brisbane average, and just under half (44%) are being purchased under some sort of mortgage agreement, again higher than the Brisbane average by 6%.
“All of this is encouraging for retailers who traditionally chase the young family and first home owner markets.”
Jon Norling from Norling Consulting also believes the population growth, as well as the lack of Greenfield sites closer to Brisbane is driving the retail opportunities in the Western Corridor.
“The retail potential in the Western Corridor over the next 20 years is significant, with more than 500,000m2 to be developed in the form of 30 supermarkets, six discount department stores, two full service department stores and scores of other associated opportunities,” Mr Norling said.
Greater Springfield recently welcomed the opening of one of Queensland’s first Masters home improvement stores.
Springfield Land Corporation’s Chairman Maha Sinnathamby predicted many more big name companies would follow the move by Woolworths and its partner in Masters, U.S. giant Lowes.
“The decision to open one of its first stores in Greater Springfield shows how much faith Woolworths and Lowes have in this growing area,” Mr Sinnathamby said.
Greater Springfield and the surrounding region has already attracted significant investment from some of Australia’s most respected developers including Lend Lease, Mirvac, Stockland, Investa, Citimark, Devine, Mater Health Services, University of Southern Queensland, NEC and New Hope Coal.
Mr Sinnathamby said travel time between Greater Springfield and Brisbane’s CBD was another incentive for retailers to set up shop in Springfield.
“The most recent data shows it takes on average an estimated 31 minutes to reach Greater Springfield from Brisbane’s CBD – compared to a whopping 50 minutes to Redcliffe, 44 minutes to Victoria Point, 39 minutes to North Lakes and 48 minutes to Kholo.
“And with future infrastructure improvements like Legacy Way and Airport Link the time residents spend commuting will be less and make it faster for people living in other areas of Brisbane to enjoy what Springfield has to offer,” he said.
“By 2013 it’s anticipated the Springfield rail project and Transit-Oriented Development will also take thousands of cars off the road, making the journey even faster.”
For information on retail opportunities within Greater Springfield, contact Sean Ranchigoda on (07) 3819 9999.
In the past five years East Ipswich, with Springfield as its centre, has experienced the third highest growth rate of 132 Statistical Local Areas (SLA) across Australia with a 2010 estimated residential population of more than 50,000 people.
Springfield Land Corporation Business Development Manager Sean Ranchigoda said with an average annual growth rate of 6.6% p.a. it was the only region in this state to make the top five nationally.
“By 2030 the population in Springfield is projected to reach 105,000 and already we have a pretty clear picture of the sort of retail outlets those residents will be likely to need and want,” Mr Ranchigoda said.
“The most recent Census data shows that the demographic of people who visit the Springfield Bulky Goods Main Trade Area (MTA) are young families and first home buyers.
“More than 80% of customers are family households, approximately 8% higher than the Brisbane average.
“What this tells retailers looking seriously at the Western Corridor is that potential customers are part of a younger demographic and they are first home buyers in the early years of the family lifecycle.
“In addition, the recent data shows that almost 94% of all homes within the MTA are detached separate houses, which is 14% higher than the Brisbane average, and just under half (44%) are being purchased under some sort of mortgage agreement, again higher than the Brisbane average by 6%.
“All of this is encouraging for retailers who traditionally chase the young family and first home owner markets.”
Jon Norling from Norling Consulting also believes the population growth, as well as the lack of Greenfield sites closer to Brisbane is driving the retail opportunities in the Western Corridor.
“The retail potential in the Western Corridor over the next 20 years is significant, with more than 500,000m2 to be developed in the form of 30 supermarkets, six discount department stores, two full service department stores and scores of other associated opportunities,” Mr Norling said.
Greater Springfield recently welcomed the opening of one of Queensland’s first Masters home improvement stores.
Springfield Land Corporation’s Chairman Maha Sinnathamby predicted many more big name companies would follow the move by Woolworths and its partner in Masters, U.S. giant Lowes.
“The decision to open one of its first stores in Greater Springfield shows how much faith Woolworths and Lowes have in this growing area,” Mr Sinnathamby said.
Greater Springfield and the surrounding region has already attracted significant investment from some of Australia’s most respected developers including Lend Lease, Mirvac, Stockland, Investa, Citimark, Devine, Mater Health Services, University of Southern Queensland, NEC and New Hope Coal.
Mr Sinnathamby said travel time between Greater Springfield and Brisbane’s CBD was another incentive for retailers to set up shop in Springfield.
“The most recent data shows it takes on average an estimated 31 minutes to reach Greater Springfield from Brisbane’s CBD – compared to a whopping 50 minutes to Redcliffe, 44 minutes to Victoria Point, 39 minutes to North Lakes and 48 minutes to Kholo.
“And with future infrastructure improvements like Legacy Way and Airport Link the time residents spend commuting will be less and make it faster for people living in other areas of Brisbane to enjoy what Springfield has to offer,” he said.
“By 2013 it’s anticipated the Springfield rail project and Transit-Oriented Development will also take thousands of cars off the road, making the journey even faster.”
For information on retail opportunities within Greater Springfield, contact Sean Ranchigoda on (07) 3819 9999.