Go west for best returns

THE recent cooling that followed a strong few months in the Ipswich market earlier in the year has continued this quarter, with sales and prices still sluggish.

June quarter figures show median house prices are down 1.5% from last quarter to $335,000 (which, in March, had shown a promising rise of 4.4% on the previous quarter). The annual change is up 2.2% and the five-year change is 10.5%.

Acreage too is not yet seeing strong growth, down 2.9% from last quarter; down 1.9% from last year, and up just 15.8% over five years.

Unit sales have been hit hardest, down 9.2% on last quarter, although they perform stronger when looking at the 12 month and five year comparisons, up 4.8% and 16.1% respectively.

But it is by no means doom or gloom in Ipswich. In fact, for those looking to invest, these figures present a unique opportunity that experts say needs to be acted on quickly to ensure maximum profit.

Warren Ramsey, principal of Ray White Ipswich, says that while these figures are not the good news we saw in March, they do offer savvy investors some fantastic opportunities that he says will not last.

“Obviously Ipswich hasn’t seen the rise like Brisbane,” Mr Ramsey said.

“We haven’t had our correction yet. But we will.”

Mr Ramsey said smart investors shouldbe guided by the rental market.

“Looking at the rental market, it is very strong,” Mr Ramsey said.

“We have almost 100% occupancy. This, combined with the low prices we are still seeing in both houses and units, offers smart investors a fantastic opportunity.

“Here in Ipswich, there is the opportunity to put down your deposit and then have nothing more to pay – the rental will take care of the repayments. That is a really good position for an investor and now is the time to take advantage of that because prices will rise, and I believe it will happen gradually but soon.”