Ripley set to become Queensland's fastest growing region
Ripley is in the midst of a decade-long population boom that will make it Queensland’s fastest growing region and will house almost half of Ipswich’s current population by 2036, according to new research from Urbis.The Urbis report, commissioned by community developer Sekisui House, reveals that the Ripley region is ramping up population growth at an average of 27.6 per cent per annum between 2016 and 2026.This is almost seven times the 4 per cent growth rate of Ipswich City where the population hit 210,000 in the March quarter after passing the 200,000 milestone in January last year.With this growth comes significant job creation for the region, the report shows employment projections in Ripley through to 2041 to be 9.8 per cent, compared with 2.6 per cent across the Ipswich local government area.The majority of new jobs forecast will come from the construction sector. By 2041 the construction sector will account for most of the jobs within the catchment at around 32 per cent.Sekisui House Australia, one of the region’s biggest community developers delivering on the $2 billion masterplan for Ripley Town Centre and the Ecco Ripley residential community, is one of the main drivers of this growth.Sekisui House Australia CEO and managing director Toru Abe said the Urbis research underscore’s the group’s commitment to the Ripley Town Centre masterplan.“The population and employment forecasts confirm our faith in the future of the Ripley region and the broader Ipswich community,” Mr Abe said.“We’re at the very beginning of an incredible growth phase and we’re excited to be playing a significant role in this transformation.”Early indicators of the region’s growth are reflected in rising property values over recent years.The Urbis report revealed that, at the end of December 2017, median prices for both house and land recorded peak levels across the catchment.Price growth in the catchment also has been sharply higher than the wider Ipswich local government area.The report shows median house prices in the Ripley catchment over five years to December 2017 rose 4.4 per cent, compared with 3.2 per cent across the Ipswich local government area.Over six months to December 2017, median house prices surged 5.1 per cent compared with 3.8 per cent across Ipswich.In addition three and four bedroom houses in the region are achieving rental premiums of 6.5 per cent and 2.7 per cent respectively over the wider Ipswich LGA figures.Ripley was declared a Priority Development Area by the State Government in 2010 with forecasts that it would ultimately become a community of 120,000 people.While the Ripley region is currently in the midst of a 20-year population boom, the pace of growth is forecast to slow to an average of 9.3 per cent between 2026 and 2036 as the region matures.According to these forecasts, the state government’s current population target for the Priority Development Area is likely to be reached as soon as 2038.