Brisbane-based SKF Development has commenced construction at their $64 million ForestBrook at Collingwood Park master-planned community, where they will deliver 164 residential homesites alongside an expansive rehabilitated creekside greenspace.
Civil works are being undertaken by local, south-Brisbane-based Nulla Contracting on the 27.75ha Mahogany Street site, which was purchased by SKF Development for $20.075 million in November 2024.
Construction of the first stage of 48 family-sized homesites, which sold out in less than three weeks after release, is anticipated for completion in mid-to-late 2025.
SKF Development Director, Eric Zhao, advised owner occupiers and investors looking for the ideal location to build a new home at an affordable price point had driven strong sales results in ForestBrook.
"Well-priced land under $400,000 is in very limited supply across South East Queensland and it is rare to find a location just 30 minutes to the Brisbane CBD where buyers are able to build a move-in ready new home for under $750,000”.
"At ForestBrook, we offer a variety of blocks from under 400 sqm to over 1000 sqm, with the first 48 homesites selling at a median price of $388,000."
Mr Zhao said the project launch was initially limited to just 20 homesites in Stage 1A, however within three days these had all sold, prompting a further 28 lots to be brought forward to meet demand from over 900 enquiries, with all 48 homesites sold in just three weeks.
“Collingwood Park is an established and in-demand suburb with exceptional amenity and infrastructure," Zhao noted.
The wider Ipswich region has witnessed significant ongoing demand due to its proximity to Brisbane. Ipswich had the fastest average annual population growth (3.2% p.a.) of all South East Queensland local government areas over the 10 years to 2023.
A recent market research report prepared by consulting firm, Urbis, found there is $ 1 billion in infrastructure projects underway in the Collingwood Park catchment, with more coming.
Senior consultant and author of the report, Lynda Campbell of Urbis, said as the cost of housing becomes increasingly unaffordable closer to capital cities, employment hubs such as Collingwood Park are proving attractive - not just because they are more affordable.
Ms Campbell added, “Collingwood Park has a strong connection to surrounding employment hubs via major arterial roads and highways, along with rail and bus networks. Queensland’s largest employment hub, the Brisbane CBD, is accessible by train with several stations in proximity to Collingwood Park.
The report further found that dwelling targets have not met demand from the growing population across South East Queensland, putting pressure on existing dwellings and land supply, and creating upward pressure on vacant land price points.
“Catchment population growth will generate a need for an additional 525 dwellings/year for 25 years,” said Ms Campbell.
The lifestyle and amenities surrounding this new land release will undoubtedly attract buyers, particularly growing families.
Two childcare centres are within 1km, Woodlinks Primary School and the new Collingwood Park State Secondary College are nearby, ensuring residents' children are well-supported in their education.
Woolworths is just 2km away for everyday convenience, and regional shopping and leisure facilities at Orion Springfield are within a 10km drive.
Commuters will appreciate the easy access to Ipswich CBD, just 11km away, and Brisbane CBD, which is a short trip via Redbank train station or the nearby Ipswich Motorway.
The master plan for the ForestBrook community includes a 12-hectare creekside parkland, bringing nature right to residents' doorsteps.
It will feature a basketball half-court, shaded play equipment, a covered picnic area and an open grass area surrounded by large shade trees for residents to enjoy.
This serene greenspace, connected by pram-friendly tree-lined walkways, will frame the western side of the community, where it adjoins a large, rehabilitated nature reserve and Six Mile Creek.
Due to unprecedented sales demand in the first stage, SKF Development will fast-track the release of Stage 2 comprising 57 homesites early in 2025, with Stage 3 to comprise the final 59 homesites to follow shortly after.
To be among the first to receive plans and prices for the Stage 2 in ForestBrook, visit forestbrook.com.au.
