REVEALED: Four suburbs listed as Queensland 'sale hotspots'
FOUR Ipswich suburbs have made Westpac's 2019 property hotspots list, with owners likely to sell up and cash in this year.
Springfield Lakes topped the Westpac Likelihood to List Rankings list in Queensland, with Goodna reaching number five, Augustine Heights number eight and Bellbird Park number 10.
Houses in Springfield Lakes are selling for a median of $422,500, an 8.5 per cent increase in median sales price over the past five years, according to the latest CoreLogic data.
Short-term growth in Springfield Lakes has lagged, dropping 3.6 per cent in the past year.
Houses in Goodna have also experienced long-term growth, up 10.2 per cent to $297,500 in the past five years, meanwhile Augustine Heights has had 2 per cent, up to $510,000 and Bellbird Park up 15 per cent to $391,000 both in the same period.
Westpac data shows location is the most important factor for home buyers. The bank also released new insights from its Home Ownership Report indicating that location is key for first home buyers.
Fifty-one per cent of respondents said access to public transport was essential, with workers prioritising their trip to and from work above school catchment areas.
Westpac general manager of home ownership Will Ranken said buyers are taking advantage of lower interest rates.
"It's helpful to know where these potential pockets of supply could come from, which will allow buyers to consider if these areas could be right for their property needs - taking advantage of lower interest rates and competitive offers for borrowers,” he said.
"While all buyers have different needs, most tend to agree that location is key when choosing a home, with safety, a quiet area, and proximity to shopping centres or grocery stores considered essential.
"Our data reveals a spread of hotspots across metropolitan suburbs, offering potential buyers some choice when it comes to their preferred location, and proximity to work and schools, which we know is particularly important to buyers.”
The research indicates about 2.1 million (17 per cent) of Australian home owners are considering selling in the next five years and that younger generations are particularly keen to get into the market, with 53 per cent of Gen Z and 31 per cent of millennials prioritising buying a home during this time.