Improved infrastructure needed to attract more buyers in Jimboomba

POOR quality roads and a lack of public transport is holding back the real estate potential of Jimboomba and surrounding suburbs.

REAL ESTATE OUTLOOK: Harcourts agent Arch Moores said housing stock was starting to pick up. Photo: Jacob Wilson

REAL ESTATE OUTLOOK: Harcourts agent Arch Moores said housing stock was starting to pick up. Photo: Jacob Wilson

This is the view of Harcourts Jimboomba agent Arch Moores, who told the Jimboomba Times that people fed up with long commute times were selling to move closer to work in the city.

“There are people who have lived here a long time who are selling for that reason. They are moving to areas like Heritage Park and (surrounding) areas because it saves them time in the morning and afternoon,” he said.

“It would make a huge difference if we had more public transport...buses and trains. We have got the freight rail at Flagstone which could easily be duplicated into a passenger line...but we are told that might not happen until (quite some time).

“That would take a lot of traffic of the road.”

With developers AV Jennings and Mirvac undergoing residential projects in Jimboomba and Greenbank and more growth expected in Flagstone and Yarrabilba, Mr Moores said it was time for infrastructure to catch up.

“The biggest problem will be infrastructure and roads...we keep getting these new estates going ahead, some of them are massive, but the infrastructure is so far behind,” he said.

“The Mount Lindesay Highway should have been duplicated 10 to 20 years ago and there has only been patch up work being done now which won’t help.”

This comes as the Real Estate Institute of Queensland released quarterly data tracking the Queensland real estate market up to the June quarter.

The report revealed houses prices have jumped 3.4 per cent since June, 2017 in Logan, ahead of 3 per cent in Moreton Bay, 2.5 per cent in Brisbane and 2.1 per cent for Ipswich.

During this 12 month period, growth was particularly strong in Yarrabilba on 7.4 per cent, New Beith 8 per cent, Logan Village 10.3 per cent, Logan Reserve 8.3 per cent, Chambers Flat 8.6 per cent and Cedar Vale 6.9 per cent.

House prices in Jimboomba and Greenbank increased 4.5 per cent and 4.3 per cent respectively.

It has been a disappointing year for Cedar Grove dropping 1.8 per cent, Munruben down 3.4 per cent and Waterford falling 3.7 per cent.

Mr Moores said there had been a lack of stock on the market in the latest quarter, but was confident this was starting to change.

“In the past few weeks we have had more appraisals and more stock starting to come in,” he said.

“As long as it keeps going as it is it should return to normal.”

This story Infrastructure needs to keep up with growth first appeared on Jimboomba Times.