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‘Doom and gloom days’ of Ipswich property behind us: Agent

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ipswich opinion

IPSWICH real estate agents will use the Christmas period to prepare for what is expected to be a good 2018 for the region’s property market.

With about one week to go before the holiday season shuts down the sector, data from the Real Estate Institute of Queensland has revealed a positive year of growth in 2017.

The institute’s quarterly market monitor found the Ipswich house market demonstrated consistent growth over the past year, adding 3.1% to the median price, reaching $335,000.

In the quarter, 5161 homes were on the market at an average list time of 40 days.

Ipswich’s median house price for the quarter rose 0.7% to $337,250, with 592 sold.

Real Estate Institute of Queensland Ipswich representative Darren Boettcher said the market was showing positive signs.

“The days of doom and gloom in Ipswich area over,” he said.

“There will be steady growth in the Ipswich market, I predict at about 3% a year for the next three to five years.”

Mr Boettcher said the market was suffering a stock shortage.

“All year has been fantastic – there are not enough houses for sale,” he said.

With Brisbane’s median property price at $660,000, Mr Boettcher said Ipswich was undervalued.

He expected the price would correct within three years.

He said there was an oversupply in Ipswich’s rental market, with timber post-war homes becoming increasingly competitive with newly constructed homes.

The institute noted Ipswich was part of southeast Queensland’s growth corridor, along with Logan, and was an active market for first home buyers.

Queensland has the highest proportion of first home buyers across the nation, with these new property seekers making up about 20% of the buying population, according to ABS lending data.

The strong performance of the southeast corner’s coastal markets helped drive Queensland’s growth over the past year, with more than 58,000 houses sold and an annual median price growth of 2.4 per cent.

The unit market in Ipswich is more volatile.

The market has grown 5.8% over the past 12 months to an annual median of $329,000, however, suffered a quarterly loss of 20.3%.

The REIQ statistics

 In the past year, Ipswich’s median property price increased 3.1% to $335,000

– For the last quarter the median price rose 0.7%

– Ipswich has the lowest annual median price in the Greater Brisbane area

– The sale of 1674 vacant blocks for the year had a median price of $190,000, a 1.5% fall on the previous year

– First home buyers make up about 20% of Queensland’s purchasing population – the highest in the nation.

– The gross rental yields for homes was steady at 4.8% while unit yields were down more than 2%.

Originally Published: www.sunshinecoastdaily.com.au

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Opinion

Sydney Baby Boomers drive real estate boom in Brisbane

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Sydney Baby Boomers drive real estate boom in Brisbane

Brisbane’s bayside suburb of Wynnum is an attractive option for southern buyers.Source:Supplied

A MIGRATION of cashed-up Baby Boomers from Sydney will lead to a real estate boom in Brisbane, according to property investment experts.

A Property Investment Professionals of Australia (PIPA) members’ survey revealed that Brisbane was regarded as the best capital city for property investment.

Of the members who participated in the survey, 46.15 per cent rated Brisbane as the best capital for investment prospects in 2018.

PIPA chairman Peter Koulizos said the Queensland capital was expected to boom as a side effect of the Sydney property boom happening when Baby Boomers were looking at retiring.

“People that have a lot of equity in their home can retire or semi-retire by selling up and buying a home in southeast Queensland,” Mr Koulizos said.

And with the median house price in Sydney more than $1 million, he said this would give them a sizeable pile of cash left over after buying a home further north.

“That is because there is such a big price difference between Brisbane and Sydney,” he said.

A PIPA survey from last year also rated Brisbane as the best capital city in which to invest, but in the past 12 months the average house price has increased by just 2.9 per cent.

Mr Koulizos said a boom would come eventually, but picking the exact point was tricky.

“Property booms take a long time to gather momentum, I doubt you will see double digit growth in Brisbane this year but it may be different next year,” he said.

Melbourne was the next best investment option according to the survey, with 19.23 per cent believing it was a good place to invest, followed by Perth at 15.38 per cent.

Originally published: brisbaneinvestor.com.au

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Opinion

The property clock strikes big for hot spot areas

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The property clock strikes big for hot spot areas

9 Lion St, Ipswich. Picture: realestate.com.auSource:Supplied

DESPITE last month’s previous lacklustre values, analyst Michael Matusik has identified the areas on the upswing.

While property values remained fairly stagnant during February, property analyst Michael Matusik has revealed where the housing market is on the upswing.

Mr Matusik’s latest property clock for houses, has Brisbane, Gold Coast, Logan, Redlands, Sunshine Coast and Gympie all in upswing.

He said a market’s position on the property clock was based on the strength and direction of key indicators including sales numbers, price and rent, demand and how much new supply there was.

His latest Matusik Missive also listed Ipswich, the Fraser Coast and Noosa markets as heading into upswing territory.

Ipswich has many beautiful homes, often at prices well below what something similar would cost in Brisbane’s suburbs. A four-bedroom home at 9 Lion St,Ipswich is listed for $879,000.

The land the home sits on was bought in 1904 from the family of the then Ipswich Mayor Mr Pettigrew. A home was built on it in 1907.

The period home has 3.5m high ceilings, VJ walls, period window, and timber floorboards which have all been restored.

REAL ESTATE: 9 Lion St, Ipswich. Picture: realestate.com.au

REAL ESTATE: 9 Lion St, Ipswich. Picture: realestate.com.auSource:Supplied

The home has two new bathrooms, a large separate dining area and study. It is listed through Steve Athanates of NGU Real Estate Ipswich.

On the Gold Coast at Robina, 196 Easthill Drive is listed for more than $850,000.

The three-bedroom home is within the Glades Golf Community.

It has formal and informal living and dining areas, and an outdoor entertainment area with a swimming pool nearby.

196 Easthill Drive, Robina. Picture: realestate.com.au

196 Easthill Drive, Robina. Picture: realestate.com.auSource:Supplied

It is listed through Ian and Linda Mills of McGrath – Palm Beach.

On the Sunshine Coast at Noosaville a home at 15 Bluebell Court is listed for offers of more than $740,000.

The three-bedroom home is in a cul-de-sac in a residential pocket bordered by the Lake Doonella Reserve.

The single-level home has open plan living and dining areas. An outdoor area overlooks the pool and reserve at the rear of the property.

15 Bluebell Court, Noosaville. Picture: realestate.com.au

15 Bluebell Court, Noosaville. Picture: realestate.com.auSource:Supplied

The property has a double lockup garage, plus on-site side parking for a boat or caravan, on the 975sq m block.

It is listed through Tansy Grant and Justin Sykes of Ray White – Noosa.

Originally published: brisbaneinvestor.com.au

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Opinion

Where to invest: These are the suburbs where house prices are tipped to grow

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Where to invest These are the suburbs where house prices are tipped to grow

Annaliese Bullock, 27 with husband Jared, 27 and daughter Lyla 5 months sold their Burpengary before it even went on the market. Picture: AAP/ Megan Slade.Source:News Limited

THESE are the rising stars of Brisbane’s property market, the 27 growth suburbs investors need to know about.

INVESTORS chasing capital growth in Brisbane are spoiled for choice, with a new report identifying 27 suburbs where house prices are tipped to rise — and more than half of them have a median price of less than $500,000.

Property analyst Terry Ryder has identified the rising stars of the property market — where sales are rising steadily and house prices are set to follow. And they’re not the inner-city, blue chip suburbs you might expect.

Terry Ryder, managing director of Hotspotting.com.au.

Terry Ryder, managing director of Hotspotting.com.au.Source:News Corp Australia

Moreton Bay is the number one local government area in the state for growth, according to the latest Price Predictor Index report from Hotspotting.

The report examines sales activity, rather than prices, to determine the best and worst local government areas for property market growth.

This property at 8 Kroll St, Kippa-Ring, is inviting interest over $379,000.

This property at 8 Kroll St, Kippa-Ring, is inviting interest over $379,000.Source:Supplied

This big, four-bedroom home at 35 Westminster Rd, Bellmere, is available for offers over $379,000. Picture: realestate.com.au.

This big, four-bedroom home at 35 Westminster Rd, Bellmere, is available for offers over $379,000. Picture: realestate.com.au.Source:Supplied

The Moreton Bay region has 10 rising star suburbs where sales have been steadily increasing including Banksia Beach, Bellmere and Deception Bay.

This family home at 33 Male Rd, Caboolture, is on the market for offers over $349,000.

This family home at 33 Male Rd, Caboolture, is on the market for offers over $349,000.Source:Supplied

This cute Queenslander cottage at 62 Tibrogargan Drive, Narangba, is on the market for offers over $355,000.

This cute Queenslander cottage at 62 Tibrogargan Drive, Narangba, is on the market for offers over $355,000.Source:Supplied

Quarterly sales in Burpengary have risen from 69 to 97 in the past six quarters, while at Sandstone Point, sales are up from around 40 per quarter to 55 to 60.

Homes are selling so fast in the area that Jared and Annaliese Bullock just sold their four-bedroom house in Burpengary for $475,000 before they had a chance to even put it on the market.

Mrs Bullock said she contacted an agent at RE/MAX Ultimate, who brought through a couple of potential buyers and the offer was made within days.

But she’s not too surprised, given how close the suburb is to the train station, shops and the highway. The couple also recently bought two units as investment properties in nearby Caboolture. Acacia Ridge, Algester, Eight Mile Plains, Kuraby and Sunnybank Hills are also predicted growth areas.

This four-bedroom home on 617 sqm at 13 Stonewood St, Algester, is for sale.

This four-bedroom home on 617 sqm at 13 Stonewood St, Algester, is for sale.Source:Supplied

“It’s the affordable, outer areas that have got the most activity at the moment,” Mr Ryder said.

“The infrastructure is pretty good, with train links to the centre of the city, and there’s lots of shopping centres and good amenities.”

“The sweet spot is to be about 200 metres from a school, a shopping centre and a train station.”

SUBURBS WHERE SALES ARE RISING

Acacia Ridge $402,000

Algester $493,000

Banksia Beach $550,000

Bellmere $345,000

Birkdale $533,000

Boondall $490,000

Burpengary $420,000

Caboolture $340,000

Caboolture South $290,000

Deception Bay $345,000

Eight Mile Plains $788,000

Ferny Grove $595,000

Goodna $324,000

Jimboomba $480,000

Kippa Ring $415,000

Kuraby $679,000

Mt Warren Park $390

Narangba $458,000

Petrie $410,000

Raceview $318,000

Sandstone Point $420,000

Sinnamon Park $720,000

Springfield $426,000

Sunnybank Hills $660,000

Tingalpa $516,000

Victoria Point $522,000

Woodridge $299,000

Source: Hotspotting

Originally published: moretoninvestor.com.au

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