Willowbank, Queensland  Willowbank is a rural locality in the City of Ipswich, Queensland, Australia. In the , Willowbank had a population of 1,315 people. The Cunningham Highway passes through the suburb from north to south. Both the Willowbank Raceway and Queensland Raceway are located in the Ipswich Motorsport Precinct at Willowbank. The name was introduced when "Willowbank Estate" was advertised for sale in February 1887. The Ipswich City Council operates a fortnightly mobile library service which visits Heit Park.