Southeast Queensland suburb sees first $1 million property sales
For the first time in history homes in a normally affordable southeast Queensland suburb are selling for more than $1 million each. SEE THE PROPERTIES
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The two highest-priced homes ever sold in the Ipswich CBD have traded hands for eye-watering amounts amid the nationwide Covid-induced housing crisis.
A four-bedroom, two-bathroom house at 9 Lion St sold at auction last month for $1.202 million — making it, according to realestate.com.au, the most expensive to ever sell in the area.
Real estate agent Ben Ramsey, son of longtime Ray White Ipswich owner Warren Ramsey, said he received about 120 enquiries from interested buyers after the home was listed.
Most of the serious prospective buyers, he said, were people who worked in Brisbane but were looking to get “more bang for their buck” by purchasing a home in Ipswich.
“We’re finding it’s (people from) Brisbane and inner Brisbane suburbs,” Mr Ramsey said.
“They’re moving out here (to Ipswich) and the people from down south are moving to Brisbane. We have much better value out here.”
Built in 1907, the “slice of Ipswich history” located on a large 792m2 block last sold in April 2018 for $825,000.
It since underwent a complete renovation and now features a private 14-metre by three-metre front veranda, external doors accessible by mobile phone, and internal and external lighting.
The home is also walking distance to the centre of town, both Ipswich hospitals, public transport, and both public and private schools.
It has only sold three times in its more-than-a-century of existence, first trading hands for $265,000 in March 2014.
Just one day before selling the Lion St property on March 4 this year, agent Ben Ramsey sold a six-bedroom, three-bathroom home at 75 Thorn St for $1.2 million.
It is now the second highest-priced home to sell in the suburb of Ipswich.
Affectionately known as ‘Truswell’, the 1910-character home is situated on a fully-fenced 890m2 block with a pool, double carport, and shed.
It, too, is within walking distance to the centre of town, both hospitals, public transport, and public and private schools.
Mr Ramsey said it was this proximity to crucial facilities, particularly hospitals, that made the Ipswich CBD so attractive to prospective buyers.
“We’ve never seen this sort of growth,” he said.
“Even in the (2008) boom it never went up this much.
“I think it’s sort of flattened now. I think the craziness has stopped, but we’re still getting the good prices.”
According to realestate.com.au, it last sold in July 2016 for $670,000 and first sold in March 2003 for $147,500.
The two recent sales are the only times in realestate.com.au history a residential property in the Ipswich CBD has sold for more than $1 million, with the third most expensive home in the area selling for $906,000 in November 2017 by Ray White Ipswich owner Warren Ramsey.
Ben Ramsey said having two “unbelievable”, high-end homes on the market at the same time last month was helpful to the local market, as it exhibited the city’s potential to prospective buyers.
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