Ipswich moves out of Brisbane’s property market shadow
The days of Ipswich being the poor cousin of Brisbane are well and truly over, with a new generation of buyers making the move to the city. Check out the top recent sales.
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The days of Ipswich being the poor cousin of Brisbane are well and truly over, with a new generation of buyers making the move to the city.
Spurred on by affordable properties, job opportunities, lifestyle and improving access to the capital, Ipswich has well and truly shed its “country town” moniker.
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Stewart Prior of Ray White North Ipswich said the description of the market being hot was “pretty fair”.
“We have a situation where a lot of people are coming to Ipswich looking for property and we don’t have a lot to sell them,” he said.
“Everything we get to sell … we’re getting swamped with interest.
“Ipswich represents extremely good value to the first home buyers as there’s nowhere else you can buy property for the prices you find in Ipswich.
“As a result, everything that’s priced fairly is moving very quickly.
“It still represents good value for money, there hasn’t been the rapid price growth seen in Brisbane or the Gold Coast, and there’s a very positive vibe around the area.”
June Frank of Walkers Real Estate agreed.
“I’ve been selling real estate in Ipswich for 32 years and this is the best market I’ve ever seen,” she said.
“Buyers have sorted themselves out and are paying above list price.
“Now, finally, owners are in control. It’s affordable and they can get a bigger block of land, a house with an office, and a yard for the kids.
“It’s been a quantum lifestyle change.
“A lot of people are coming here from Brisbane … it’s quite okay for them to buy in Ipswich now, they love our heritage properties and can buy a quarter acre block, close to fabulous schools and parks for a third of the price.”
It comes as the Price Predictor Index (PPI) Winter 2021 Edition by Terry Ryder from Hotspotting recently revealed that there are now 146 “rising” markets across regional Queensland – up from 72 just six months ago.
“Consecutive quarters of rising sales activity are translating into major price growth across the
regional areas of Queensland,” the report said.
Ipswich was identified by Hotspotting as one of the National Growth Stars, alongside Logan.
Dubbed a “supercharged suburb”, Ipswich was no longing hiding in Brisbane’s vast shadow.
“Brisbane is on its strongest growth path in a decade but prior to this survey it appeared Ipswich City … was lagging the growth trend,” the report said.
“Not any more. The Ipswich market has burst into life, with 11 of its 14 suburbs now ranked as rising markets.
“Bundamba and Brassall provide two dramatic examples.
“Both have median house prices in the low $300,000s, emphasising a key part of the Ipswich appeal, affordability. This region also has good infrastructure, transport links and major employment nodes.”
The other rising suburbs are Bellbird Park, Camira, Collingwood Park, East Ipswich, Eastern Heights, Flinders View, Goodna, Raceview, Redbank Plains and Springfield Lakes.
REIQ Ipswich zone chair Glenn Ball said that even before Covid-19, the Ipswich market was “very strong”, but it wasn’t posting any real price increases.
But times have changed.
“Our market has dramatically changed, with price increases occurring almost weekly,” he said.
“We are also in short supply of rental properties and we have seen rental prices increasing as well.
“Buyers are now leaning towards larger blocks of land with rural prices increasing more than we thought they would have.
“Queenslander and period homes in particular have seen a massive surge in price and demand.”
Mr Ball said the majority of buyers were first homebuyers and interstate buyers moving to Queensland, adding that interstate investors were also active in the region.
“I can only see our market becoming busier towards the end of the year, as, traditionally, October, November and December are our busiest months in Ipswich due to the increased amount of transfers coming into the area in particular to the air force base, teachers, nurses and police,” he said.
REA Group economist Anne Flaherty said the Ipswich region had seen house prices rise 6.5 per cent over the last 12 months alone, well above the annual average of 1.4 per cent seen over the past ten years.
“Properties are selling 29 per cent faster with the average number of days properties spend on the market falling from 86 to 61 days,” she said.
“Plainland, Silkstone and Mount Crosby have been the strongest performers with price growth up above 15 per cent over the past 12 months.”
>>>RECENT TOP SALES
1. $2 MILLION – 16/83 Birchwood Crescent, Brookwater
This stunning five bedroom, four bathroom residence sits on a 1148 sqm block, and set a new suburb record when it sold on February 8.
Architecturally-designed, it also has a dedicated office, a designer kitchen, a media room, multiple living zones with state-of-the-art home automation, and a self-contained apartment.
The master suite has custom-designed cabinetry, a large dressing room, and a private terrace overlooking the treetops and golf course.
There is also a three-car garage, a pool and high-end fixtures and finishes.
It was sold by Brookwater Residential.
2. $1.65 MILLION – 97 Willow Road, Redbank Plains
Offering significant development potential, this 19,650 sqm parcel of land comes with a five-bedroom, two-bathroom house plus a two-bedroom granny flat.
Accessible via two street frontages, it has an expired development application approval for a 28-lot subdivision.
Potential aside, its location is a cracker.
It’s opposite the Redbank Plains Recreation Reserve and is three minutes’ drive to the Town Square Redbank Plains shopping centre, sporting facilities, schools, parks and the upgraded Ipswich Motorway.
It was sold by @realty
3. $1.58 MILLION – 14 Turnberry Way, Brookwater
On a 600 sqm block, this five bedroom house has panoramic views of the golf course and a roof top terrace to take it all in.
The open plan layout of the home allows for the living, dining and entertaining zones to flow cohesively throughout, with timber used throughout.
Features include a dumbwaiter lift that services all three levels, a master suite with an elevated golf course outlook and lavish ensuite and walk-in robe, a state-of-art kitchen with a butlers pantry and a double garage.
The outdoor rooftop terrace is located on the third level and has an outdoor spa and built-in barbecue.
It was sold by Brookwater Residential.
4. $1.5 MILLION – 26 Seminary Road, Marburg
Architecturally-designed with some stunning rural views, this 522 sqm, sprawling home is a mix of luxury and rustic charm.
High ceilings, contemporary kitchen, and home theatre are some of many highlights.
The master suite has a walk-in robe, ensuite and space while the remaining three bedrooms have wardrobes and airconditioning.
An office, fireplaces, solar panels, outdoor decks and a saltwater pool with slide are bonuses. Outdoor infrastructure includes sheds, cleared land, cattle yards, paddocks and a dam.
It was sold by Homes By Budget Real Estate.
5. $1.349 MILLION – 27 Hillside Road, Purga
This executive-style homestead on 54 acres was sold by NGU Real Estate on May 17.
It has seven bedrooms, three bathrooms and garaging for seven vehicles.
Access is through remote-controlled gates, a features include a full length front veranda, a large media room, a rumpus room, an elegant kitchen with high-end appliances, a majestic master suite and an indoor bar handmade from 135-year-old iron bark panels.
There is also an alfresco pergola, a pool and spa, horse yards, an arbour with a wood-fire pizza oven, a huge shed, a large workshop and more.
* Additional report by Melinda Healy
Originally published as Ipswich moves out of Brisbane’s property market shadow
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