Property

Buyers invest in Ipswich as city's real estate warms

GOING, GOING, GONE: 148 Chermside Rd, Basin Pocket was sold by June Frank from Walkers Real Estate for $300,000.
GOING, GOING, GONE: 148 Chermside Rd, Basin Pocket was sold by June Frank from Walkers Real Estate for $300,000. Contributed

IPSWICH has been named as one of Queensland's real estate warm areas with investors moving in on the region.

Founder of hotspotting.com.au Terry Ryder listed Ipswich as number four in his list of Queensland's Hot Spots.

It beat out Kelvin Grove, Logan, Redcliffe, the Sunshine Coast, Toowoomba and Townsville.

Mr Ryder, a long-term real estate market watcher and writer, said while the city has been known as a growth centre for some time, government investment, low prices and new transport infrastructure meant now was the time to invest in the city.

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"The Ipswich corridor is now well-known as a growth region," Mr Ryder said.

Prices rose strongly in the five years to 2009 (before tapering off), giving the suburbs of Ipswich City the strongest capital growth averages in the greater Brisbane region.

"Ipswich has shown strong growth in the past but we believe its evolution into a headline hotspot of national standing will continue well into the future," Mr Ryder said.

"There remain many suburbs that are attractively affordable for first-home buyers and investors on a budget."

Hotspottingcomau

The affordability of Ipswich homes was a big selling point for Mr Ryder, alongside its massive investment and development, such as

the Ipswich Mwy, Orion shopping centre and the RAAF base Amberley's expansion. His opinion was backed up by REIQ Ipswich zone chairman Darren Boettcher who said property investors were moving on Ipswich properties.

"They're outstripping first-home owners at the moment. We're selling houses over the phone. We've had one were the buyer hasn't even it seen it, he's had a look on the internet and that's enough for him."

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Mr Boettcher said the affordability of properties in Ipswich, in comparison to the inner-suburbs of Brisbane, meant there was a strong return on investments.

"Because the yields are so low in Sydney and Melbourne, and to a lesser extent Brisbane, it means a lot of people are looking to places like Ipswich to invest," he said.

He said investors looked to established suburbs for rental properties, while first-home buyers were more often buying in newer suburbs like Springfield or Deebing Heights.

ARGAIN: 78 Woodend Rd, Woodend, sold for $290,000 after one week on the market with Action Realty.
ARGAIN: 78 Woodend Rd, Woodend, sold for $290,000 after one week on the market with Action Realty. Contributed

Topics:  real estate, reiq




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The improvement would be mild when compared to past cycles