Region's median house price climbed 1.4% to $325,000 and the median unit price fell 13.8% to $235,000 in the September quarter.
Region's median house price climbed 1.4% to $325,000 and the median unit price fell 13.8% to $235,000 in the September quarter. Andy Dean Photography

Ipswich house prices looking up in "seller's market”

FRESH sales data shows the city's house prices have lifted slightly in what Ipswich property expert Darren Boettcher describes as a "seller's market".

Real Estate Institute of Queensland property statistics reveal the region's median house price climbed 1.4% to $325,000 and the median unit price fell 13.8% to $235,000 in the September quarter.

The downturn over the past three months follows the region's annual median sale price increase of 1.1% to $324,000 and the five-yearly increase of 3.7% from $312,500.

Quarterly medians were not available for all suburbs because of the low turnover of properties in the three months.

However, the statistics reveal Augustine Heights had the highest price with that suburb's median for the quarter sitting on $530,000 - an increase of 17.8% over the three months.

Springfield Lakes recorded a quarterly median of $430,000, Springfield hit $426,000, Camira's median was $386,000 and Brassall's median was $337,500.

A total of 636 Ipswich houses changed hands in the September quarter and 70 units sold for a median of $235,000.

Springfield Lakes had the most home sales with 67 properties going to new owners.

Mr Boettcher said Ipswich's market was "very solid and stable".

The REIQ Ipswich zone chair said the final three months of 2016 were strong with a lot of buyers competing for limited stock.

"It's a seller's market," Mr Boettcher said.

"It's going to continue to be a seller's market.

"There's been some good prices out there for some houses.

"The bad days are over, there are no more bad days ahead.

"The interest rates are the cheapest in history and the only way is up. I believe they will move up in the next year. Prices are moving now."

Mr Boettcher said he had particular confidence in the suburbs of Silkstone and Eastern Heights.

"I've been touting these two suburbs as sleeping giants," he said.

"In Silkstone you've got post-war homes and big Colonials and it's close to the railway station - we're finding that those post-war homes that were $220,000 12 months ago are selling for over $300,000.

"The growth there has been really solid."

Mr Boettcher said the rental vacancy rate was about 2%.

"The rental market is buoyant but I can see an over-supply coming," he said.

REIQ research analyst Karina Salas said the data showed regional Queensland was "a market running in low speed".

"The mining downturn impacted heavily most of regional Queensland so the downward trend in volumes and prices is not a surprise," Ms Salas said.

- ARM NEWSDESK

SUBURBS TO WATCH

KARALEE

Size: About 16 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 90.9% of homes owner-occupied.

AUGUSTINE HEIGHTS

Predominant age group: 0-14 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: $3000-$4000 a month.

Ownership: 67.7% of homes owner-occupied.

SPRINGFIELD LAKES

Size: About 5 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 53.4% of homes owner-occupied.

DEEBING HEIGHTS

Size: About 12 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month,

Ownership: 85.5% of homes owner-occupied.

SPRINGFIELD

Size: About 639 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 60.2% of homes owner-occupied.

Source: CoreLogic RP Data



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