How much Ipswich house prices have grown in one year
IPSWICH'S property market recorded the strongest average price increase in the greater Brisbane area across the past year, a new report found.
The Real Estate Institute of Queensland's Market Monitor found the average price of an Ipswich home was $340,000 in December, a 4.6 per cent increase on the previous year.
In 2017, 3290 homes were sold in the Ipswich area.
The city's 4.6 per cent price growth puts it at the top of the greater Brisbane area.
Property in the Redlands had the second-strongest growth, with a median price increase of 4 per cent in 2017.
The value of vacant land in Ipswich decreased 2.6 per cent last year to a median price of $190,000.
For 2017, Ipswich's units and townhouse market remained stable, with a median price of $322,000 remaining unchanged on the previous year.
In the final quarter of last year, 631 homes were sold in the Ipswich Local Government Area at a median price of $345,000.
According to the REIQ's report, the greater Brisbane house market grew "at a moderate pace in 2017".
"Affordability continues to be the selling point for this capital city, with house prices as low as $340,000 in Ipswich," it read.
"Its outlook in 2018 is positive and we do not expect to see many surprises on these regions."
While Ipswich was the star performer for growth in the greater Brisbane area, the beachside regions of the Gold and Sunshine Coasts recorded the state's strongest results.
The Gold Coast delivered a gold-medal performance, with the annual median house price growing by 7.7 per cent, to end the year on $615,000.
The Sunshine Coast median house price grew 6.4 per cent to end the year at $569,000.
REIQ chief executive officer Antonia Mercorella said with a strong tourism sector, jobs growth had helped the property market perform well in 2017.