Ipswich house prices tipped to rise further

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There are a number of factors to consider when either deciding to build or buy a new home, or sell an existing property of yours.

One of the most important factors is of course the state of the real estate market and according to RiskWise Property Research CEO, Doron Peleg, houses in the Ipswich region are tipped to rise – making it the perfect time to get in to build, buy or sell.

Growing Garrison City

A $5 billion Defence contract awarded to Ipswich has already had a positive impact on house price growth and consumer confidence in the region.

Despite a below-average property price growth earlier in the year, Ipswich is an attractive destination to home buyers and investors who seek affordable housing – particularly Defence families with long-term postings to RAAF Amberley. Over the medium to long-term, Mr Peleg believes the region is projected to deliver solid returns.

The $5 billion contract for 211 high-tech armoured vehicles will result in a new multimillion-dollar Centre of Excellence at Redbank and defence jobs for 40 years.

It is predicted the contract would create more than 330 permanent jobs from the outset, build significant opportunities for local businesses and provide associated work with ongoing delivery and maintenance of the vehicles.

Affordable, Stable Market

Where other states are failing, Queensland (and in particular, South East Queensland) is remaining stable – an attractive point for both buyers and sellers.

“We have good fundamentals right now,” Mr Peleg said.

“Relatively good housing affordability, population growth and therefore demand for houses, improved jobs and economy, weakness in other markets, and modest capital growth so it’s not an out-of-control market.

“You will see, overall, a balanced market between buyers and sellers with some small pockets leaning towards sellers in high-demand areas. Usually, you won’t see people paying inflated prices.”

Interstate Migration

At the beginning of 2018, interstate migration from the southern states to Queensland was at its highest level in a decade. Why? Cheaper houses and better job opportunities are pegged to be the leading reasons why our Victorian and New South Welshmen friends have relocated to the Sunshine State – particularly to South East Queensland.

“When we have significant slowdown and price reductions in Sydney and Melbourne, as is the case now, this traditionally means South East Queensland attracts more interstate investments,” Mr Peleg said.

Sea Change

The hustle and bustle of Brisbane City has been a driving factor for people to relocate to Ipswich. Despite it’s rapid population growth, Ipswich still has that “small town feel”, yet residents are able to capitalise on big city perks – like the newcoming Costco, leading parks and recreational spaces, fantastic shopping perks and quick access to the CBD if need be, via the Cunningham and Centenary Highways.