Ipswich suburb among best in price growth
AN IPSWICH suburb has been named the second strongest suburb in the state for price growth, according to the latest real estate report.
The Real Estate Institute of Queensland Market Monitor report found about 70 suburbs across Queensland delivered double-digit growth in the past 12 months to June.
With a median price of $450,000, Spring Mountain at Springfield was named the state's second best performing suburb.
In one year, the capital growth at Spring Mountain was 103.6per cent.
The Ipswich suburb sits second to the staggering 151.3per cent capital growth recorded at Blackwater.
A 21.3per cent increase in price resulted in Boonah rounding out the top 10 of the best-performing suburbs.
Eleven suburbs recorded annual price growth of more than 20per cent.
Institute chief executive officer Antonia Mercorella said while many headlines predicted doom and gloom for the property market, the reality was very different, with many markets in Queensland performing exceptionally well.
"A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result," she said.
"And there are many more suburbs delivering strong single-digit growth.
"It's a great market to be in at the moment."
Six Ipswich suburbs were in the top 68 suburbs on the capital growth list.
In addition to Spring Mountain, Tivoli recorded 18per cent growth, Walloon 16.7per cent, Ripley 15.4per cent, Flinders View 10.9per cent and Rosewood 10.7per cent.
While the results are positive, Ms Mercorella cautioned against celebrating another property "boom" across the state.
"While we're definitely seeing prices come back in western Queensland mining towns such as Blackwater, these prices are still below their peak," she said.
"It's unlikely we'll see a return to pre-2013 prices."