Property

Lifestyle rural properties crack $1 million price tag

The auction at the Ipswich Turf Club on Friday.
The auction at the Ipswich Turf Club on Friday. David Nielsen

TWO rural properties broke through the $1 million mark in one of Ipswich's biggest auctions.

A total 14 properties out of 26 that went under the hammer on Friday were sold on the day or before the day.

The auction was a major event for Ray White Ipswich, who are planning another similar big-event auction for the second half of the year.

Ray White Ipswich principal Warren Ramsey said another four of the other properties that did not sell on the day were close to selling.

"That's a great result," he said.

More than 200 people attended the auction on Friday and 59 people officially registered as bidders.

The surprise of the day were two rural lifestyle properties. A home on Leshcke Rd in Walloon sold for $1.1 million and a home on Pine Mountain Rd in Pine Mountain sold for $1. 075 million.

Mr Ramsey said the $1 million price tag was a major psychological barrier for buyers, and it was great to see two rural properties bust through.

Leschke Road Walloon.Photo: Contributed
Leschke Road Walloon.Photo: Contributed Contributed

He said many similar homes in years past had sold close to $1 million but had so far not been able to crack through into seven figures.

New figures released by the Real Estate Institute of Queensland yesterday show most Ipswich homes will sell for just a third of the price as those two big sellers.

The median sale price for Ipswich houses in the last three months of 2015 was $325,000.

The city also showed the same median sale price in the three months before.

"Local agents report a strong level of enquiry and have suggested the March quarter figures will be a return to busier times for Ipswich," the REIQ report said.

Topics:  real estate



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