Located in Queensland within the Ipswich local government area, Springfield is a medium-sized suburb (postcode 4300). It is home to about 7,322 residents, with a mix of young professionals and families and a median age of 32. Households earn a median income of $113K per year, with an average household size of 3.1 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +3.5% year-on-year at the LGA level. QLD employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. QLD also had 32 Commonwealth-backed major projects under construction, 12 underway, and 50 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count.
Median house prices in Springfield sit at $920,000, little changed on a year ago. The median weekly rent is $385 (Census 2021). This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $1,733.
Springfield is served by 3 schools, including 3 combined. The average ICSEA score is 947, which is below the national average of 1,000. Public transport access includes 1 rail station, 23 bus stops. The crime rate in the Ipswich LGA is moderate at 6,631 incidents per 100,000 population.
Looking at the investment signals, The gross rental yield works out to roughly 2.2%, which reads as low yield. Property prices are near the state median ($920K/$1.1M). The price-to-income ratio of 8.1x is considered moderate. House prices have moved +0.0% year-on-year. Population growth of +3.5% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.