Ipswich house prices go up

NEW REIQ figures have been hailed as evidence Ipswich real estate is booming with a bigger surge tipped to come.

MARKET HEATING UP: Renovated Queenslanders, such as this one in Thorn Street, Ipswich, are getting snapped up as buyers flood into the region.

NEW REIQ figures have been hailed as evidence Ipswich real estate is booming with a bigger surge tipped to come.

Bundamba units experienced a stunning 17.8% price rise in the past 12 months to a median of $210,718 while North Booval homes increased to $263,190, a 6.8% gain.

Augustine Heights homes are up 5.8% to $448,018, a general trend in the blue-chip eastern suburbs.

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Goodna homes were up 3.3% to $269, 600, and units rose 4.6% to $202, 045, while Redbank Plains prices increased 5% to $295, 982.

Booval experienced positive quarterly growth of 4.3% to $282, 845.

North Booval also went up 5.4% in the quarter.

Other strong quarterly performers were Springfield Lakes and Camira, each up 3% to $389, 147 and $361, 516 respectively.

Bundamba also experienced strong quarterly growth in housing with a 3% rise to $277, 928.

Council's planning and development chairman Paul Tully said the figures were a positive sign for the city.

"It shows that the area is booming both for houses and units," Cr Tully said.

"The highest rise was the units in Bundamba, but other places like Redbank Plains and Goodna are making a resurgence.

"Ipswich will edge closer to a 200,000 population in approximately three years and this is a positive sign for people that we are well and truly over the hump of the global financial crisis.

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"I think Ripley Valley will be the next one to take off.

"It is early days for Ripley Valley at the moment but I think it is going to be the next boom area after Springfield."

Ben Walker, principal, of i Think Property, has offices in Ipswich, Toowoomba and on the Gold Coast.

Toowoomba City has seen a 10.6% increase in 12 months while many Gold Coast suburbs have experienced strong growth with popular suburbs such as Southport surging 9.8% over 12 months.

Mr Walker said those increases were filtering down to Ipswich.

"Six months ago prices on the Gold Coast and Toowoomba were going sky high but were stagnant in Ipswich," Mr Walker said.

"But in the last month or so we have started to see Ipswich prices start to reflect the growth in those other two centres.

"So it is little wonder it has started to jump and I am tipping some big increases to come."

Mr Walker said the flood in 2011 took a toll on prices in areas such as North Booval.

"Now they are starting to come back," he said.

Originally published as Ipswich house prices go up