Jul
21

HOUSE prices in some of Ipswich’s core suburbs are tipped to potentially lift by 20% within a year

HOUSE prices in some of Ipswich’s core suburbs are tipped to potentially lift by 20% within a year and masterplanned communities are also set to be hot property.

The median sale price of Ipswich homes for the September quarter was $320,000, up 1.6% on the previous quarter.

Year on year Ipswich’s median house sale price rose 4.6% and there was no change from five years ago.

Booval and Silkstone recorded some of the highest median sale price increases for the quarter and were predicted to climb further this year.

Booval’s median sale price rose 8.2% to $289,500 and Silkstone was up 7.1% to $287,000.

Ray White Ipswich principal Warren Ramsey said these core suburbs and any areas along the railway line were poised for growth.

“It’s not unlikely we could see a 20% rise in 12 months,” Mr Ramsey said.

Karalee also recorded an 8.7% rise on the last quarter, impacted by sales of acreage properties.

It had one of the highest median sale prices for the region at $540,000.

Mr Ramsey said the price bump was promising for the local market and while people were now paying more for good properties, the gap between Ipswich and Brisbane was still huge.

“If every house in Ipswich put 25% on it, it’s still better value than the western suburbs of Brisbane,” Mr Ramsey said.

REIQ Ipswich zone chair Darren Boettcher said masterplanned communities such as Springfield Lakes, Ripley and Augustine Heights would also be boom areas as they provided the lifestyle factor.

“You’ve only got to look at what Springfield has done catering for all the families – you’ve got water parks, green spaces and shopping centres,” Mr Boettcher said.

Mr Boettcher said people were “trading up” to new land packages in Springfield and others were moving to the area to downsize.

He also said Eastern Heights was a good pick for people wanting to invest in a core Ipswich suburb as it was close to schools and sporting fields.

“It’s such a great area, flood-free and with views from some of the elevated blocks,” he said.

Mr Boettcher said Ipswich properties were still being undervalued by about $50,000 so people could get homes in close proximity to Brisbane at much cheaper prices.

“People are starting to realise that heading west makes good financial sense,” he said.

No slowing down for Ipswich’s strong-performing suburbs

HOUSE and land packages and homes near Springfield are being snapped up as property experts predict Ipswich’s sought-after suburbs will not slow down in 2016.

Sales activity was up 12% for the September quarter and Redbank Plains, Springfield Lakes and Raceview had the highest number of house sales.

PRDnationwide Ipswich principal Craig Mendoza said these areas were booming thanks to an abundance of house and land packages enticing buyers.

Mr Mendoza said “affordability and proximity to Springfield” were key factors for many buyers.

“There is so much infrastructure there and there are a lot of reasons buyers would want to live there,” he said.

“Everything is there now – private schools, hospital, cinemas and rail network. The parklands as well are amazing.”

There were 718 house sales in Ipswich for the September quarter and 58 acreage properties sold.

Mr Mendoza said he had seen a trend of young couples wanting new houses on smaller allotments.

“Their first home is a brand new home and land package, not a second-hand house,” he said.

The city’s affordable prices were also a drawcard, he added.

“You can get a new four-bedroom house with all the bells and whistles in the low $300,000s,” he said.

Mr Mendoza said Ipswich was still an ideal option for investors and offered good rental yields.

“Investors should consider Ipswich as a good place to invest in property for their future,” he said.

“There’s more and more infrastructure and growth coming to the region.”

REIQ Ipswich zone chair Darren Boettcher said there was a lot of confidence in the city’s “buoyant” market and expected the growth to continue.

“In the next three to five years it will be strong, steady growth,” he said.

– Brigid Simeoni

 

SPRINGFIELD LAKES

Size: About 5sq km with eight parks.

Predominant age group: 0-14 years.

Households: Primarily couples with children/professionals.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 53.4% of homes owner occupied.

 

REDBANK PLAINS

Size: About 18sq km with four parks.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 47.3% of homes owner occupied.

 

SILKSTONE

Size: About 2sq km with two parks.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1400-$1800 a month.

Ownership: 63.6% of homes owner occupied.

 

KARALEE

Size: About 16sq km with seven parks.

Predominant age group: 0-14 years.

Households: Primarily couples with children/professionals.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 90.9% of homes owner occupied.

 

BOOVAL

Size: About 2sq km with one park.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1400-$1800 a month.

Ownership: 48.0% of homes owner occupied.

 

AUGUSTINE HEIGHTS

Predominant age group: 0-14 years.

Households: Primarily couples with children/professionals.

Likely mortgage repayments: $3000-$4000 a month.

Ownership: 67.7% of homes owner occupied.

 

EASTERN HEIGHTS

Size: About 2sq km with one park.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 67.5% of homes owner occupied.

* Source: CoreLogic RP Data