POSTED October 17, 2018
Ipswich ‘still a sleeping giant’ Ipswich zone chairman Darren Boettcher thinks Ipswich continues to be undervalued and represents great value for investors and families, no matter where they are from.
“Like anything, overall the Ipswich market is undervalued,” Mr Boettcher said.
“The average price is $320,000 to $330,000, whereas Brisbane is an average of over $640,000.
“I do believe in the next three to five years Goodna will take off, but so will most of Ipswich.
“The proximity to Brisbane is so close and we have everything here plus the new town centres, in Ripley and coming to Yamanto, show the whole city is the sleeping giant.
“I said a few years ago that Eastern Heights was a sleeping giant, and that’s gone up 30 per cent. It’s up there with the best of them now.”
Of the top ten cheapest suburbs in Ipswich, One Mile has shown the most growth, with a 7 per cent increase in the past year.
“One Mile sells well, I’ve seen the prices go up in the last two years and one of the reasons is Leichhardt used to have a bad name, but that has changed,” he said.
“One Mile is a bit more flood free and has had a better name. It’s incredible how cheap it is over there, and it’s starting to take off.
“I sell a lot of property under $300,000 and they normally always go to an investor.”
The new house and land owners are going to Ripley, Brassall and Springfield.
“If something sells under $250,000 it’s about 80 per cent investors,” Mr Boettcher said.
“An investor won’t buy over $350,000, as their return is not there.
“You can buy a property for $260,000 and get $300 in rent, so that’s why these suburbs are so popular with investors.”