Inner-city suburbs lead way
House prices remain steady except for one surprise drop
I’m seeing buyers who are so worried about missing they’re bidding over the asking price. Craig Mendoza
INNER-CITY suburbs were some of Ipswich’s strongest performing areas in 2016 – but there was a surprise price drop in one of the city’s most popular suburbs.
Real Estate Institute of Queensland figures for the 2016 December quarter reveal median Ipswich housing prices remained relatively steady throughout last year but tumbled 15.7% in the popular Yamanto.
The REIQ figures show across the Ipswich council area 665 houses were sold in the December quarter with a median sales price of $332,700.
There were 40 acreage properties sold with a median sales price of $507,500.
PRD Nationwide Ipswich principal Craig Mendoza said he was stunned the statistics showed such a big price fall in Yamanto.
“Yamanto and the Winston Glades area are some of the most in-demand areas in Ipswich,” he said.
“One of the reasons the Yamanto area is so popular is the development of commercial areas. And we all know the rail is coming.
“I’m seeing buyers who are so worried about missing they’re bidding over the asking price.”
The REIQ figures show median house prices in Augustine Heights increased 10.2% – more than any other Ipswich suburb. The percentage rise was matched by acreage properties in Karalee.
Inner Ipswich suburbs also saw price gains with median prices in Sadliers Crossing increasing 9.2%, Eastern Heights 8.5% and Woodend 7.5% throughout the year, increases that did not surprise Mr Mendoza.
“Those areas that are close to the city, city-adjacent, are always popular with buyers,” he said.
Mr Mendoza said 2016 had been a turnaround year for the Ipswich market that had struggled for some time.
“We’ve had six years of slugging it out. But consumer confidence in Ipswich in 2016 continued to grow,” he said.
“The competition among Ipswich agents for clients’ business is fierce. And I think that’s good for buyers and sellers in Ipswich.”