Ipswich properties selling like hotcakes

IPSWICH property remains in hot demand as south-east Queensland home buyers look for a cheaper alternative to Brisbane.

Picture: ©iStockphoto/Dem10

IPSWICH property remains in hot demand as south-east Queensland home buyers look for a cheaper alternative to Brisbane.

Ray White Ipswich principal Warren Ramsey said a recent auction attracted an average number of bidders - but seven out of the nine properties sold.

Houses and land at East Ipswich, Mt Crosby, One Mile and North Booval went for between $140,000 and $460,000.

“The amount of activity from bidders is the same, but in the past we have seen vendors with unrealistic expectations - the reserve was set too high,” Mr Ramsey said.

Far from taking a toll on the property market, the economic downturn may have turned some people's attention to areas of Ipswich, Mr Ramsey said.

“Ipswich tends to liven up when people are hedging their bets and playing it safe,” he said.

With the city growing rapidly, there will eventually come a time when Ipswich property prices catch up.

This should not be a problem, Mr Ramsey said, because Ipswich was also becoming a first choice for more people looking at the higher end of the market.

In a separate auction conducted by Ray White Ipswich, a rural property at Blacksoil sold for $1.115 million -“way above the reserve price,” Mr Ramsey said.

For more details on buying and selling in Ipswich, contact Ray White Ipswich on [phone].

Originally published as Ipswich properties selling like hotcakes