Leading Australian developer Homecorp has acquired an expansive balance parcel of land in Redbank Plains, one of Southeast Queensland’s fastest-growing lifestyle corridors, with plans to deliver 193 homes as demand for affordable housing continues to steepen amid ongoing market challenges.
Delivered across six stages, the $90 million Century Estate will comprise a range of four-bedroom homes, dual occupancies and duplexes on the fringe of the Ipswich CBD, with the project set to launch to market in the coming months.
The 25.22 ha site marks the next major addition to Homecorp’s multi-billion-dollar property portfolio, which comprises house and land, townhomes and multi-storey projects across Australia’s eastern seaboard, spanning Queensland’s northern coastline through to South Australia and Victoria. The 639 Redbank Plains Road site was purchased for $30 million, with the sale facilitated by Kelemen Commercial.
“Southeast Queensland continues to present strong fundamentals, from the Gold Coast through to the western growth corridor, and this acquisition strengthens our portfolio with a product offering that responds to a clear need in the market,” said Homecorp CEO and Founder Ron Bakir.
“Importantly, it gives us the opportunity to provide housing options for a broad range of buyers, from families and downsizers through to those taking their first step into home ownership.”
Mr Bakir said Redbank Plains offered a strong combination of connectivity, affordability and lifestyle, giving buyers at Century Estate easy access to the major centres while providing the space and amenity of a green, suburban landscape.
“Redbank Plains offers buyers access to both the Ipswich and Brisbane CBDs while retaining a quieter, greener setting on the city fringe. That balance is increasingly important to buyers, particularly families who want space and amenity without compromising their connection to employment, education and the wider Southeast Queensland network.”
New data released in PropTrack’s latest Home Price Index report earlier this week shows both Brisbane and regional Queensland have recorded one of the highest 10-year growth rates in median house prices across all regional markets and capital cities*. According to Cotality’s latest Home Value Index report for September 2026, the City of Ipswich continues to rank among the top 10 strongest Queensland hotspots for home price growth in a capital city region, supported by strong connectivity to capital cities, infrastructure investment and housing affordability**.
Government projections show Southeast Queensland will need almost 900,000 new homes by 2046 to accommodate an additional 2.2 million people, equivalent to around 34,500 new homes each year***.
“We need more homes, and our vision is to create inspiring communities of the future where people belong, no matter where we build,” Mr Bakir said.
“This site provides an opportunity to deliver quality homes with space, privacy and tranquillity, at an attainable market, while maintaining connectivity to the city and contributing to the housing supply needed as the region prepares for the Brisbane 2032 Olympic and Paralympic Games.”
Set within a green, hillside pocket, the project will feature a range of community recreational facilities, including large football and cricket fields, cricket practice cages and a children’s playground.
The acquisition builds on Homecorp’s continued investment in the western growth corridor and its position as one of Australia’s active developers of house and land communities. Its diverse portfolio is designed to respond to the needs of growing markets while providing attainable housing options and value for buyers nationwide.
Civil construction is expected to commence in the coming weeks, with land registration anticipated in mid-2027.
*Reference: www.proptrack.com.au/wp-content/uploads/2022/04/realestatecomau-Home-Price-Report-August-2026.pdf
**Reference: https://discover.cotality.com/hubfs/Article-Reports/COTALITY%20HVI%20SEP%202026%20FINAL%20(1).pdf
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