Ipswich property affordable


While house prices continue to progress on a balistic pathway in Sydney and Melbourne, prices in Queensland have shown only moderate growth, and in Ipswich growth remains steady at about one per cent per quarter.

The Real Estate Institute of Queensland report that the annual median house price in Queensland grew 4.1 per cent over the past 12 months.

The unit market performed less well, falling four per cent in the final quarter of 2016, with supply issues finally gaining traction. However, REIQ reports that in the past 12 months the unit market has only fallen 1.1 per cent and over the past five years the market is still in positive territory, having grown 11.3 per cent.

The strength of houses and the weaker performance of the unit market was a consistent theme throughout much of the state.

In Ipswich, the median house price increased marginally in the December quarter, by 0.8 per cent to $332,700. This market is holding steady. While it has only grown by a slender 0.9 per cent over the past 12 months it is about 5.5 per cent higher than five years ago, according to the REIQ.

The Ipswich unit market is however much more volatile than the house market, and this is partially due to the stuttering nature of supply coming onto the market.

The median unit price fell 10.6 per cent in the December 2016 quarter to $272,750, but over the past five years the market is still showing modest growth of 7.1 per cent.