Election spurs boost in city’s property market
IPSWICH'S property market is thriving in the wake of news that business confidence in the wider Brisbane region has jumped 13 percent.
A Westpac Group CCIQ Pulse Survey for the September quarter revealed the jump in business confidence to 61.1 percentage points in the wider Brisbane area.
Ipswich Chamber of Commerce president Brett Kitching said the increase in confidence was "probably a result of holding the federal election, after it was announced so long before it was held".
"Business confidence drops off in between the period of announcing an election and having one.
"Then straight after an election there is a surge because the business community is a lot more certain of the conditions it will be operating in over the next three years."
Mr Kitching said historically low interest rates were having a marked effect on the status of Ipswich property.
"It has been flat for a long time, but over the last two or three months the property market from all indications is starting to surge," he said.
"There are a couple of real estate agents in Ipswich reporting the largest number of sales in years, starting in August and continuing on to now."
Cr Paul Tully, the planning and development committee chairman for Ipswich City Council, backed up Mr Kitching on the increase in property activity.
"We are starting to see that (increase) now in house and land packages, especially in the eastern suburbs like Springfield, the Brentwood Forest estate at Bellbird Park and Redbank Plains," he said.
"The Brentwood Forest estate is starting to sell very quickly as they develop it.
"The information I am getting from the real estate and development industry is that things are starting to move in Ipswich."
Cr Tully said the Redbank Motorway Estate would also be "a big job generator".