A new residential estate has had to fast-track its land release due to overwhelming demand from buyers eager to secure a spot in this sought-after location.
Balancing nature access with city proximity at an affordable price is rare, but the estate’s first release in November 2024 exceeded expectations. Developer SKF sold all 20 homesites in just three days, prompting an early second release of 28 additional lots to accommodate over 900 inquiries. In total, the first 48 homesites—part of a planned 164-home development—sold out in under three weeks at a median price of $388,000.
Construction is now underway, with civil works led by Nulla Contracting.
Affordability Drives Buyer Interest
SKF Development Director Eric Zhao noted, “Well-priced land under $400,000 is in very limited supply across South East Queensland.” Buyers are expected to build their homes for under $750,000, making it a competitive alternative to Brisbane’s median house price of $972,000 (PropTrack, December 2024).
Collingwood Park, 11km from Ipswich, is increasingly popular for its affordability. Economic analyst Megan Lieu from REA Group ranks it among Greater Brisbane’s three most affordable suburbs, with a median house price of $581,000.
Land prices in Brisbane have surged, with a 21.2% increase over the past year, bringing the median land price to $685,000 (Housing Industry Association).
Nature as a Key Selling Point
SKF acquired the 27.75-hectare site for $20.075 million in late 2024, committing to biodiversity restoration, including 12 hectares of creekside parkland. Located 25km from Brisbane’s CBD, ForestBrook offers scenic access to Six-Mile Creek bushland. Plans include a pram-friendly walkway, a park with a basketball half-court, a shaded playground, and picnic areas.
Strong Connectivity and Growth
ForestBrook appeals to nature lovers who need city access, with a 30-minute drive to Brisbane via the M7 and train services from nearby Redbank station.
A $1 billion infrastructure pipeline is set to enhance Collingwood Park’s transport and amenities. Ipswich, with 3.2% annual population growth, will require 525 new dwellings annually for the next 25 years (Urbis).
To meet demand, SKF is expediting its next release of 57 homesites, with the final 59 lots expected later in 2025.
