Cashed-up investors driving Ipswich's luxury housing market

A new wave of interstate investors and young super savers are spending close to $1 million on Ipswich homes

SOLD: Elia Youssef bought a home on Hilton Drive Camira for $830,000. Picture: Contributed

A NEW wave of cashed-up interstate investors and young sassy super savers are re-creating an Ipswich suburb's previously dormant property market.

A host of high-end luxury homes up for sale in Camira have been snapped up, many with price tags of more than double the average spend.

What used to be Saturday morning open homes with piles of shoes dumped at the front door has evolved into canapes and champagne with buyers on a Friday night - a tactic that has had Camira homes sell for close to the million-dollar mark.

In one instance, investors turned up from interstate with close to $1 million in cash and settled on an expansive home on Addison Rd within one hour.

A few blocks away on Hilton Dr, businessman Elia Youssef was sold on a property's 16-car garage - and pretty soon the house was sold to him.

He paid $830,000 for the house, more the double the median figure of $385,000. It was a birthday treat for Mr Youssef, settling on his 31st birthday.

5A Hilton Drive Camira. Picture: McGrath

Mr Youssef said he was ready to spend up to $850,000 on the right property and the home on Hilton Dr ticked all the boxes.

"When I walked into this house, it was very well built but it had a finesse and character about it and for me that was the wow factor. I wasn't in love with other houses but when I walked into this one, I fell in love. It just fell into place, it aligned for me," he said.

"I saw that it had a 16-car garage and I have a lot of cars, motorbikes and toys and I think that is what drew me the most to it. I like what I saw.

"What I like about Camira is its quite secluded, quiet and peaceful. Working in the hustle and bustle of the city, you want to come home to a bit of serenity. To hear the birds chirping, that's really special.

"I had no idea even where Camira was until about a week before I bought this house. I found it by accident."

The luxury four-bed, three-bath home is Mr Youssef's second property - he bought a home at Browns Plains when he was 25.

Camira property

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He said the splurge on a luxury home didn't come easily but it was achievable.

"I'm no-one special. I'm just a clever saver. I don't drink, smoke or party. I work hard and save my money," he said.

"I don't really go out. I just save all the money I could be spending.

"It's about what you're willing to sacrifice to get there. I sacrificed a lot of parties and nights out with friends to save every single penny and cent for a deposit. I didn't want to be paying someone else's mortgage. It's about how bad you want it."

McGrath sales agent Clare May said Mr Youssef's property was a sample of the changing Camira market.

She said the rapid sale in Addison Rd showed investors were ready to spend.

"It was a cash sale for $818,000. The sold sticker was placed on the board within an hour. It's pretty unheard of," she said.

"It's a suburb that has been underestimated."

Ms May said the more high-end homes that sold in Camira, the higher the median price would be.

"We are determined to increase the value of Camira by selling the properties the right way. We've been able to do that for the last three properties and we will continue to do that.

"By us believing in the value of Camira, people have purchased properties at the value and that will eventually push the median price up. That's going to benefit not just one or two residents of Camira but the whole of Camira. I do believe Camira will steadily increase."

Originally published as Cashed-up investors driving Ipswich's luxury housing market