RENOVATOR'S DREAM: This Dinmore property will go under the hammer in October.
RENOVATOR'S DREAM: This Dinmore property will go under the hammer in October. Contributed

AUDIO: Ipswich's cheapest homes for under $100k

LESS than $80,000 can see buyers snap up a slice of Ipswich real estate.

Spring traditionally represents a peak in real estate activity when the region is a buyer's market with a plentiful supply of affordable homes up for sale.

Investors, renovators and retirees are the best placed with homes on the Ipswich market starting at $75,000.

A Bundamba over 55's unit, a renovator's dream at Dinmore and a demountable at Tivoli are a sample of bargain Ipswich homes, the majority of which are for sale for less than $100,000.

"The situation for the first home buyer is as good as it's going to get in the Ipswich market and I'd suggest if people are thinking about it they need to make it happen because that's the hardest part," Ray White agent Les Svensson said.

He said a two bedroom property at Dinmore would go under the hammer in October and with nothing but the walls, floor, frame and roof on offer, it was expected the deceased estate would be snapped up by a keen renovator.

"It's very gutted. It's going to take a fair bit of effort because internally there is no kitchen, there is no bathroom, there is nothing there," he said.

"I expect the interest on auction day will be predominantly from builders and renovators, they understand what it will take to bring it back to life because it's not one for first home buyers or anything like that.

"All houses have potential, it's just to what degree of work people want to do. Some can handle a bit of painting but this is a block like reno starting right from scratch."

Mr Svensson said the average Ipswich home price was level with eight years ago but it was unlikely home prices could drop any lower.

"Prices will only go one way from here, heading upwards," he said.

"Ipswich is in the fastest growing region in South Queensland so that's got to be good for people that have got property and are investing.

"We're selling a lot of property, last month was one of our best months ever with predominantly residential sales.

"A lot of that is affordability, Ipswich property is still very much affordable."

Latest Ipswich Local Government Area regional profile data shows 4, 346 residential homes were sold in the 12 months to March with a average sale value of $321,000 compared to $430,000 Queensland wide.

A one bedroom one bathroom over 55's lifestyle unit at Bundamba is going against the average and comes with a price tag of $75,000.

The Bundamba property marks the bottom of the Ipswich housing market and is among the cheapest homes up for sale in the region.

With a floor space about the size of a double garage, the small unit makes up for a lack of space with value for money and inclusions for owner occupiers wanting to get into the over 55 lifestyle market or investors.

Furtado Property agent Gail Lockyer said the properties were free-hold title.

"These are specifically built units for the over 55s. It's not quite a retirement village but there are a lot benefits that go with it," Ms Lockyer said.

"These are 36 square metres which is not much bigger than a double garage.

"They are for retired people, generally people need a little tiny bit of support but not to the level of a nursing home."

The cheapest

A two bedroom demountable at Tivoli on the market for $99,000

Eight over 55's units at Bundamba priced between $75,000 and $100,000

A gutted deceased estate at Dinmore will go to auction later in October

A 45 square metre over 55's unit at Flinders View for $99,500
 



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