It's an exciting time for Ipswich LGA with the booming development of new suburbs and properties. People are now more concerned about where they can find the best places to live. Ipswich is a popular area for many people due to its affordability, transport links and close proximity to Brisbane.
The cost of living in Ipswich is also one of the best indicators for estimating house prices, as costs are relatively low compared to other metropolitan areas.
The best investment proposition in Ipswich LGA is the highly competitive rental market, which makes this area a very lucrative place for investors, with rentals available for people on all budgets.
Additionally Ipswich City’s property market has been growing consistently since 2011, with a solid growth rate in house prices compounding at double digit levels, in some cases higher than the Greater Brisbane growth rates.
Ipswich property market has been a hotspot for investors in recent years. This is because there has been an influx of new land releases and developments, and investor demand for the central part of town is high. There are also plenty of quality homes on the market at reasonable prices, which is helping to keep the Ipswich City real estate market balanced overall.
Property Market Snapshot
The Ipswich property market has performed much the same as the rest of QLD over the past 12 months, with a mix of ups and downs, varying between suburbs and property types.
Ipswich's median house price currently sits at $667,000 compared to April 2023, where we saw a median house price of $611,000, an increase of 9.2% over the past 12 months. Units saw a much larger increase in prices with the median unit price currently sitting at $368,000, up from $322,000 in April 2023, an increase of around 14.3% over the past 12 months.
We all know that the Australian property market can be turbulent, with price drops causing considerable concern. However, amidst all this uncertainty, the Ipswich market has remained quite resilient.
There's also some good news for investors with rental returns still climbing at record levels. The median house rent is now sitting at $468 per week (+11.89% in the last 12 months) and units at $358 per week (+10.46% in the last 12 months) - this is the highest median rent prices historically seen in Ipswich.
Although, we've seen interest rates rise over the past 12-months, the rental return increases are helping offset additional loan repayments and providing investors with higher yields than they've seen in previous years.
Not such good news if you're looking to rent though, as competition is still fierce for rentals, given the low vacancy rate of 0.50% on average across Ipswich. Many renters are offering landlords higher than the advertised prices, or even 6 to 12 months of rent paid in advance just to secure a rental property.
The Best & Worst Performing Suburbs
Top 5 best performing suburbs in the last 12 months (houses - median price):
Rosewood +16.87%
Silkstone +12.62%
Gailes +12.22%
Redbank +11.69%
Dinmore +11.68%
Top 5 best performing suburbs in the last 12 months (units - median price):
Redbank Plains +16.65%
Brassall +13.39%
Goodna +12.47%
Raceview +10.39%
Top 5 worst performing suburbs in the last 12 months (houses - median price):
Spring Mountain +4.21%
Camira +4.81%
Springfield Lakes +5.02%
Springfield +7.09%
Moores Pocket +7.13%
Top 5 worst performing suburbs in the last 12 months (units - median price):
No unit data.
Ipswich is a city with a bright future, a strong sense of community, and a rich history. Its affordability and the range of amenities it offers make it an attractive option for homebuyers and investors. Whether you are a first-time homebuyer or looking to invest, Ipswich has something to offer everyone.
For the majority of buyers across the Ipswich market, they should feel confident that they've made a sound financial decision buying in this area, as the average annual compounding growth rate is currently sitting at 7.4% for houses and 6.5% for units based on a 10-year hold, with the average hold period of 8.25 years across the region.
Disclosure: The information contained in this blog is our personal opinion only and is not to be taken as financial advice, as we do not know your financial situation. Please speak with your accountant or any other licensed professional for specific advice based on your own personal circumstances. We will not be held liable for any losses.