Ipswich looks set for a year of growth
IPSWICH house prices are on the up and sales are set to increase by 20% in the next year according to a real estate market outlook from leading commentator Michael Matusik.
Mr Matusik presented the special report, sponsored by the Queensland Times, to Ipswich real estate agents yesterday.
The report, developed by Matusik Property Insights, said Ipswich was developing to become Brisbane's "Parramatta".
Houses on small land lots and traditional family homes are forecast to be the most in-demand property type over the next decade.
"Over the next 12 months we expect both weekly rents and average dwelling prices to rise," the market outlook said.
"We are forecasting a 5% lift in weekly rents and anticipate median dwelling values to rise between 5% and 10%."
"Our investigations have also found that there is a need, based on current trends, to build between 2500 and 3000 new dwellings in the Ipswich area each year."
"The area is projected to grow by 14,000 new residents per annum."
Mr Matusik's report said the Ipswich rental market could become undersupplied over the next few months and also predicted there would be a $15 rise in average weekly rent prices over the next year.