Why you should buy a house in Ipswich
IPSWICH has some of the cheapest homes to buy and rent in the wider Brisbane region, according to recent data.
The data, released by property information and analytics service CoreLogic earlier this month, shows Ipswich as having some of the best returns on rental properties.
Glenn Ball said this has led to more investors and first home buyers choosing to make a start in Ipswich.
"I think it's definitely a good thing," he said.
"Owners are happy with their purchase prices and the returns they're getting on rentals.
"In years gone by that's not been the case. "Previously in Ipswich you'd pay $250,000 for a home and expect to rent that out for $250 a week. Now owners are getting about $280."
The owner of First National Action Reality Ipswich, who has been a real estate agent for 12 years, said now was a good time for investors to sink their teeth into Ipswich.
According to the data the cheapest areas to buy a home in the region include Leichhardt, Dinmore, Riverview, One Mile, Basin Pocket, Gailes and Tivoli with homes costing on average between $231,689 and $268,346.
Only one Ipswich suburb made the top 10 highest average value, with most houses in Brookwater costing $619,009.
The most expensive area to buy a home is Teneriffe in Brisbane, with the average property being worth $1,649,880.
Where Ipswich also stands is in the top ten lowest average rents and in the top ten highest gross rental yields.
"It's popular for first time and repeat investors because you can get two to three properties in Ipswich for the same price as one in Brisbane," he said.
"People who don't want to buy in Brisbane and the Gold Coast are also seeing Ipswich as the next major city which is exciting."
Seven Ipswich suburbs were included in the top ten lowest average rents for wider Brisbane with weekly rent costing between $270-$280.
Goodna, Leichhardt, One Mile and Riverview are the best places to own a rental home in Ipswich, with the four suburbs offering a gross rental yield of between 5.9%-6.3%.
Mr Ball predicted property values in Ipswich would rise in the coming years.
"It's about supply and demand. I now see homes going under contract quite quickly with people not wanting to miss out whereas previously people would tend to wait," he said.
"That sense of urgency is coming back to the Ipswich market and that's a good indicator prices will increase."