Property prices may be on upswing

WHILE housing prices across Ipswich remain down, they might finally be on the upswing.

A report released over the weekend by the Real Estate Institute of Queensland showed while Ipswich housing prices were down on this time last year, they were up on the previous quarter.

The median price of houses in Ipswich remained stable at $300,000 from the previous quarter; however individual suburbs saw huge jumps in median sale price.

Brassall and Springfield led the way in recovery from the December quarter with median price rises 11% and 10.5% respectively.

Similarly Augustine Heights, Camira, Flinders View, Goodna, North Ipswich and Springfield Lakes saw an increase in the median sale price ranging from only 0.8% in Camira to more than 6% in North Ipswich and Springfield Lakes.

However, house prices in Yamanto, Redbank Plains, Raceview and Bundamba all saw a decrease in the median sale price.

Despite the increase on prices since last quarter, the year-on-year median price remains lower in almost every Ipswich suburb.

Only Eastern Heights and Ipswich saw increases with a 1.3% and 2.8% rise respectively.

This is the first REIQ report to demonstrate positive results for the greater Brisbane area, including Ipswich, for 18 months.

REIQ CEO Anton Kardash said a positive outlook was returning to the market.

''Three months ago when we analysed the December quarter data it seemed to indicate we had reached the bottom of the market because prices were stabilising," he said.



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