City is hot property for families and first-home buyers
IPSWICH'S property market continues to remain hugely popular with first-home buyers and those looking to establish themselves on a larger piece of dirt.
Over the past three months, 1296 houses and 107 units went under the hammer across the city.
The average house price between July and September remained at a very affordable $316,190 while the average unit price across the same period shot up to $278,000.
The figures represent a 1.7% and 10.3% increase in house and unit prices respectively compared to the corresponding period last year.
Domain Group's House Price Report, to be released today, showed Ipswich continued to remain popular with families and those who wanted to live out of the city, but close to it at the same time.
Domain Group senior economist Dr Andrew Wilson said that Ipswich was a market that had progressed rapidly over the past decade.
He said affordable housing and strong economic drivers were the key to ongoing property market success in the region.
"There is some very affordable buys in the region at the moment," he said.
"It is particularly appealing to first-home buyers and young families who are looking to establish themselves in the market.
"It is also becoming a popular midway-base between Toowoomba and Brisbane."
Dr Wilson said thatIpswich has transformed itself in the past decade from what was an old, established region to a reinvigorated region where there are a lot of opportunities.
Quarterly sales, average price, 12-month value change
- House: 1296 - $316,190 - +1.7%
- Unit: 107 - $278,000 - +10.3%
Source: Domain Group