Springfield Lakes
Prepared by Ben O'Brien, Head of Sales / Lead AgentThe quarter in 30 seconds
- The median house price is $975,000 for the year to September, up 17.5% on a year ago. Homes are selling in a median of 24 days.
- Sixty homes sold in the quarter at a median of $942,500, and 16 of them fetched $1 million or more. The best result was $1.62 million on Ash Avenue.
- Rents are up 7.1% in a year to $675 a week, and the gross yield is 3.9%.
- There is no denying prices have softened in Springfield Lakes, and we are meeting fewer buyers than we were in autumn. The buyers we do meet are confident: the homes priced to the recent sales sold, and the gap from the May peak is 3 per cent, less than Greater Brisbane gave back.
Key stats
Value trend
Prices have softened, buyer confidence has not
Springfield Lakes is 17.5% ahead of where it was a year ago, with a median house price of $975,000 for the year to September and 302 sales in that time. RP Data's value index, which runs to August, gave back 3.2% from its May peak over the quarter, less than Greater Brisbane lost over the same three months (4.7% across all dwellings, on Cotality's index). Rents are up 7.1% to $675 a week, and the gross yield is 3.9%.
Buyers and open homes
Sixty homes changed hands in Springfield Lakes between July and September, and 16 of them sold for $1 million or more. The best result was $1.62 million on Ash Avenue. Homes here sell in a median of 24 days. There is more choice than there was in autumn, with 86 houses for sale today. At our own open homes across the area we met 57 groups over 40 opens, and four of those buyers came back for a second look. Five of our listings are here in the Lakes.
Forty open homes across our listings this quarter and 57 groups through, fewer than autumn, but the buyers who came back for a second look were ready to act. They know the recent sales and they have their finance sorted. What is not helping the suburb is agents cutting an asking price by $10,000 every week until the market sees undeniable value. We price to the evidence from day one, and I am proud that the five homes we have sold since August went within the range we told their owners at the start. Two of our Springfield Lakes homes sold this quarter and two more are under contract.
Prices and the rental market
The typical Springfield Lakes house sold for $942,500 this quarter, and realestate.com.au puts the median for the year to September at $975,000, up 17.5%. The busiest band was $900,000 to $1 million, where 22 of the 60 sales landed, and another 16 cleared $1 million. Rents keep climbing: the median asking rent is $675 a week, up from $660 three months ago and $630 a year ago, across 648 rentals. The gross yield sits at 3.9% on realestate.com.au's figures for the year to September.
Sixteen homes sold for $1 million or more in a single quarter. The busiest band was $900,000 to $1 million, with 22 of the 60 sales, and the top end paid for the block or the finish: the five best results sat on blocks of 640 to 1,100 square metres. The softening since the May federal budget comes down to the budget itself, the uncertainty that followed it and four rate rises, which together mean less competition at open homes. A buyer pre-approved for $1 million in January can borrow close to $90,000 less today. Rents at $675 a week, up 7 per cent in a year, keep investors interested.
Infrastructure and investment
Mater Hospital Springfield opened on 20 May 2026 with 186 public beds, giving Greater Springfield its first public emergency department. Council's 2026-27 budget funds Stage 2 of the Springfield Parkway duplication, with a start proposed from September and completion in December 2027, and puts $10.5 million over three years into widening Augusta Parkway and Sinnathamby Boulevard to four lanes. The Springfield-Redbank special school is half built and opens for Term 1 2027, and a senior campus for Springfield Central State High School is being planned for 2029 to 2031. In July the City West site at Springfield Central sold for $50 million, with a Coles-anchored village centre planned to open in mid-2029.
Where Greater Springfield is heading
Ipswich passed 270,000 residents in January, up nearly 10,000 in a year, and council expects 530,000 within 20 years. Greater Springfield holds 38,415 of them, and Springfield Lakes alone has 29,552 people, making it one of the fastest growing suburbs in the city. A passenger rail line from Ipswich to Springfield Central has been studied and has $7.5 million set aside for a business case, but no money yet to build it, so it stays a long-term prospect.
The hospital opened in May, the train station is already here, the City West precinct at Springfield Central is coming and Springfield Central State High is getting its own senior campus. Buyers ask about all of them. Springfield Lakes is a lifestyle suburb, with the lake, Orion and the train close by, and even with prices softer, buyers remain confident in it.
Outlook for spring
If I had sat you down in January and told you that America would strike Venezuela and go to war with Iran, that petrol would go through the roof, that the federal budget would change negative gearing and capital gains tax in one night, and that we would have four rate rises with inflation still not where the Reserve Bank wants it, you would not have believed me. We have had all of it, and Springfield Lakes still has buyers paying strong money for the right home. If a move is on your mind for spring or the new year, presentation and pricing matter more than they did in May, and a current figure costs nothing. If you want my view from the front trenches on what the market is doing, what buyers are telling me and where your home sits, reach out.
What sold this quarter
House sales in Springfield Lakes published on realestate.com.au between 1 July and 30 September 2026.
Where the house sales landed
Top sales of the quarter
| Home | Price | Date · land |
|---|---|---|
| 5 Ash Avenue | $1,620,000 | 27 Jul 2026 · 1,094 m² |
| 23 Burlington Terrace | $1,300,000 | 21 Jul 2026 · 642 m² |
| 3 Burlington Terrace | $1,300,000 | 15 Jul 2026 · 803 m² |
| 6 Benedict Court | $1,290,000 | 10 Jul 2026 · 687 m² |
| 84 James Josey Avenue | $1,280,000 | 5 Sep 2026 · 767 m² |
Twenty-two of the 60 sales were between $900,000 and $1 million, and another 16 sold for $1 million or more. The five best results ran from $1.28 million to $1.62 million, all on big blocks of 642 to 1,094 square metres. Forty-three of the 60 homes were four-bedroom houses. Five sold without a published price.
Since the quarter closed
October has started the same way. Five homes sold in the first half of October at a median of $870,000, the best of them $975,000.
| Home | Price | Sold |
|---|---|---|
| 10 Madeira Street | $895,000 | 13 Oct |
| 47 Lakes Entrance Drive | $820,000 | 9 Oct |
| 9 Alfred Place | $785,000 | 6 Oct |
| Address available on request | $975,000 | 1 Oct |
| 22 Shallow Bay Drive | $870,000 | 1 Oct |
86 houses on the market
Advertised prices
Who holds the stock
| Agency | Listed | Share |
|---|---|---|
| Gale & Co. Springfield Lakes | 28 | 33% |
| STRUD Property (Team O'Brien) | 7 | 8% |
| NGU Real Estate Greater Springfield | 4 | 5% |
| Ray White Ipswich | 3 | 3% |
| Clare May Real Estate Camira | 2 | 2% |
Eighty-six houses are for sale in Springfield Lakes today, across 27 agencies. Gale & Co. has 28 of them and STRUD Property is next with seven, ahead of NGU with four and Ray White Ipswich with three. Sixty of the 86 show an asking figure, with a median of $900,000; the rest are listed as contact agent or by offers.
What the rate rises mean
The Reserve Bank lifted the cash rate to 4.60% on 29 September, its fourth rise this year and the highest rate since November 2011. The next decision is due on 3 November. On the assumptions below, this year's rises add $387 a month to a $600,000 loan and $581 a month to a $900,000 loan, or about $4,650 and $6,975 a year.
Cash rate now
| 2026 | Rate |
|---|---|
| 3 February | 3.85% |
| 17 March | 4.10% |
| 5 May | 4.35% |
| 16 June | 4.35% |
| 11 August | 4.35% |
| 29 September | 4.60% |
Four rises in 2026, one percentage point in all
| Loan | Extra a month | Extra a year |
|---|---|---|
| $600,000 | +$387 | +$4,650 |
| $750,000 | +$484 | +$5,812 |
| $900,000 | +$581 | +$6,975 |
Based on a 30-year principal and interest loan with the variable rate at the cash rate plus 2 points, 5.60% in January and 6.60% now. A guide only; your lender sets your rate.
Across the corridor
Greater Brisbane has had a softer year than we have. Cotality's index for all dwellings fell 1.5% in September and 4.7% over the quarter, and sits 5.4% below its May peak at a median of $1,048,880, though it is still 5.9% up on a year ago. Brisbane home sales are down 27.2% on a year ago, the sharpest fall of any capital. Across the capitals homes are taking 39 days to sell, against 23 a year earlier, with 23.1% more homes listed.
How the corridor compares
Houses, all from RP Data, so every suburb is measured the same way.
Change in median house value this quarter
Side by side
| Suburb | Median value | Qtr | Year | Sold | Days | Rent | Yield |
|---|---|---|---|---|---|---|---|
| Springfield Lakes | $1,038,839 | -3.2% | +15.4% | 388 | 14 | $675 | 3.6% |
| Springfield | $1,067,985 | -1.4% | +16.5% | 118 | 15 | $680 | 3.6% |
| Spring Mountain | $1,091,931 | -3.5% | +13.5% | 189 | 17 | $720 | 3.5% |
| Brookwater | $1,357,608 | -3.8% | +13.9% | 89 | 42 | $950 | 3.1% |
| Augustine Heights | $1,253,844 | -2.8% | +17.2% | 104 | 14 | $660 | 3.2% |
| Redbank Plains | $882,694 | -3.6% | +16.3% | 519 | 13 | $602 | 3.8% |
Spring watch
What I'm watching between now and the next report.
Our results this quarter
We sold six homes this quarter, two of them here in Springfield Lakes, and have seven homes listed here now, two of them under contract. At our Springfield Lakes open homes we met 33 groups over 26 opens.
Over the last 12 months
Recent reviews
“It was an absolute pleasure working with Ben and the team to sell our property in Springfield Lakes. Ben goes above and beyond at every step of the process and we cannot thank Ben enough for the endless support, ongoing communication, and for getting things over the line! Ben makes the process seamless and takes the stress out of selling. Ben is a fantastic agent and person and we would absolutely recommend Ben if you are looking to sell! Thank you Ben and the team!”
“Ben is an absolute pleasure to deal with. It was our first time selling and from the moment he showed up we knew we were in good hands. His confidence, communication and knowledge is second to none and he made the whole process feel personal and not just like a business transaction. Ben showed patience and gave us all the time we needed to make the decision. Ben got us a figure that far exceeded the original figure we had in mind and we plan on using him again soon! We can’t thank him enough.”
“Ben and Elliarna are amazing. They took time to understand our idea and presented a plan that they executed perfectly. The service provided was second to none and truely has made this experience stress free. Could not have chosen a better team to sell our home.”
From 77 verified reviews on realestate.com.au, 5.0 average. Clients most often say: great communicator (60), professional (52), genuine (44), trustworthy (44).
Every street in Springfield Lakes moved differently this quarter. For my view from the front trenches on what buyers are telling me and where your home sits, text me for a current, no-obligation figure.
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