City remains a sleeping giant
REIQ Zone chairman Darren Boettcher thinks Ipswich continues to be undervalued and represents great value for investors and families, no matter where they are from.
"Like anything, overall the Ipswich market is undervalued. The average price is $320-$330,000, whereas Brisbane is an average of over $640,000," Mr Boettcher said.
"I do believe in the next three to five years Goodna will take off, but so will most of Ipswich. The proximity to Brisbane is so close, and we have everything here plus the new town centres, in Ripley and coming to Yamanto show that the whole city is the sleeping giant.
"I said a few years ago that Eastern Heights was a sleeping giant, and that's gone up 30%. It's up there with the best of them now."
Of the top ten cheapest suburbs in Ipswich, One Mile has shown the most growth, with a 7% growth over the last year.
"One Mile sells well, I've seen the prices go up in the last two years and one of the reasons is Leichhardt used to have a bad name, but that has changed. One Mile is a bit more flood free, and has had a better name. It's incredible how cheap it is over there, and it's starting to take off.
"I sell a lot of property under $300,000 and they normally always go to an investor. The new house and land owners are going to Ripley, Brassall and Springfield. If something sells under $250,000 its about 80% investors.
"An investor won't buy over $350,000, as their return is not there. You can buy a property for $260,000 and get $300 in rent, so that's why these suburbs are so popular with investors. I get people from Sydney with a budget of $450,000 and I say 'Why buy one property, when you can get two'? You can get a lovely home for half a million dollars in Ipswich or two good homes with double the income.
Ipswich's Best Value Suburbs
Position Suburb Median Price Change in last year
1 Goodna $215,000 +1.4%
2 Riverview $237,000 -4.8%
3 Ebbw Vale $237,500 -15.2%
4 Leichhardt $242,875 +2.3%
5 Dinmore $250,000 -1%
6 Gailes $255,000 +0.7%
7 One Mile $262,500 +7.1%
8 East Ipswich $266,750 -1.2%
9 Marburg $270,000 -17.6%
10 Brassall $273,500 -2%