The Deepwater fire has been burning since the weekend and has gone through 36,000 hectares of land.
Favourable weather conditions overnight and this morning have assisted firefighters battling the blaze.
Crews worked through the night to build containment lines while water bombing aircraft were called in to help.
An alert for the area has been downgraded to watch and act but for residents who chose to evacuate earlier in the week it is still not safe to return.
It is hoped residents will be able to head home later tonight or early tomorrow.
One property has been lost due to the bushfire but the number could rise as rapid damage assessments continue.
Residents who evacuated Oyster Creek near Agnes Water have also been told it is not safe to return to the area yet.
Meanwhile a fire has gutted a property and sparked a grassfire nearby at Ipswich south of Brisbane this afternoon.
Neighbours told 9News some people who are homeless were living in the abandoned property.
However firefighters have confirmed everyone is accounted for.
Six fire trucks responded to the blaze when it broke out after 3pm.
Residents can keep up to date with the latest warnings on the Queensland Fire and Emergency Services website.
