Ipswich is the oldest provincial city in Queensland and maintains much of its historic charm and blend of urban and rural heritage. As the gateway to the Lockyer Valley, it is well-connected by motorways to the Gold Coast and Sunshine Coast, and by road and rail to Brisbane city, only 40-minutes-drive or an hour away by train.
As a well-serviced city in its own right, and ideally positioned as a commuter city, the Ipswich property market is worth a closer look.
Ipswich property forecast
At the time of writing, as we head into 2022, the Ipswich property market is booming. With cashed-up buyers flocking to Queensland from interstate, demand for property is driving record sales and prices. The median house price is sitting at $425,000, showing a healthy growth of around 18%. The prices for units has remained steady, seeing an average increase over the last 12 months from $207,000 to $213,000. Very few units have gone to market over that period showing that investors and owner-occupiers are there for the long-haul.
If you are looking to rent out a property, the median rental is $345 per week for a 3-bedroom home and $250 per week for a unit. Vacancy rates are very low, at a little over 2%, meaning you can have the pick of prospective tenants.
Ipswich is forecast to be one of the fastest growing local government areas in Queensland, with predicting a population growth of 176% to 2041, requiring an additional 143,000 dwellings. Investing now can see you ideally placed to reap the rewards.
The appeal of Ipswich
Money is being heavily invested in industry and education in Ipswich, providing a broad range of employment opportunities, quality schools, and even two universities. The city retains the charm of its old buildings and Queenslander homes, and offers a relaxed lifestyle, perfectly balanced between city and country, and ideal for commuters or those who can work from home. There are vibrant cultural and retail precincts and plenty of parks and public pools to appeal to families.
The Ipswich climate is temperate, around 26 degrees during summer dropping to a cool 12 degrees in winter, with slightly more rain on average than the capital city.
The current suburban list of Ipswich includes:
• Bellbird Park
• Carole Park
• Collingwood Park
• Deebing Heights
• Redbank Plains
Is it risky to buy in Ipswich?
With so much to offer and strong growth predictions, Ipswich is a very tempting prospect. At the time of going to print the investment risk in Ipswich is low. However, as with any investment, things could go wrong so our expert team would insist on you speaking to a trusted advisor before making a big move.