Ipswich land prices are likely to pass $200,000 by the end of the year, according to a new land report.
The South East Queensland Land Market Update, from property services company Oliver Hume, noted Ipswich had a vacancy rate of 2.4 per – one of the lowest in Queensland.
Oliver Hume southeast Queensland joint managing director Brinton Keath said this indicated the local market offered some of the best value for money.
“Ipswich offers affordability, strong road linkages, $200 million of planned and ongoing infrastructure and, as a byproduct, ongoing job opportunities due to this increased activity in the region,” he said.
Block prices increased 11 per cent during the past 18 months, up from an average $174,950.
“Ipswich is where the available land supply is and, based on our research, come 2017 will be the leading local government area in terms of new land sale volumes for the next 10 to 15 years,” Mr Keath said.
“On average, Ipswich land prices have risen by $18,000 – but are still priced low at $192,750, signalling the early stages of a land sales explosion in the region.
“Our data projections suggest we can certainly expect land prices to exceed the $200,000 average in the second half of 2016.
Mr Keath said the inclusion of quality, market-leading facilities such as water parks, upgraded shopping precincts and train stations servicing the new housing estates had added to a “clear and dynamic price shift” through the corridor.
Providence at South Ripley recorded close to 580 land sales in 2015.
More than 120 families have already moved into the community and a water park is now open.
Original article published at www.couriermail.com.au by Paula Shearer, News Corp Australia Network, 9/6/16
