AUGUSTINE Heights has recorded the highest increase in house and land prices in Ipswich in the past year, with many other of the city’s suburbs star performers.
According to the latest data by CoreLogic, prices in Augustine Heights increased 11.3% with a median house price at a record high of $540,000.
“A lot of it has been brought on by people from Brisbane and the Gold Coast moving out here and looking for a lifestyle change,” said iThink Property’s Adam Boettcher.
“When you are comparing apples for apples, $500,000 to $600,000 gets you a significant house in Augustine Heights but to buy the same in Brisbane or the Gold Coast you are looking at double that.
“Certainly out at Greater Springfield with all the infrastructure that is being put in you don’t need to leave. It has good hospitals, universities and schools.”
Karalee had the second highest percentage boost in the past 12 months of 9.9% with median sale prices of $549,500.
“You are looking at acre blocks out there and if you compare buying an acre out at Karalee to Tallebudgera Valley there is a significant difference on price,” Mr Boettcher said.
Augustine Heights and Karalee narrowly eclipsed increases of 9.4% in Eastern Heights and 8.5% in Camira.
Pine Mountain recorded the highest median sale price across Ipswich of $570,000 with a 6% boost in the past year.
The booming residential suburbs of Springfield and Ripley had increases of 6.1% and 5.8% respectively.
Goodna, the most-seriously flood affected suburb in south-east Queensland in 2011, continued its recovery with a 6.7% increase in median house prices of $309,500.
“It is all about affordability there,” Mr Boettcher said.
“Places like Goodna and Camira are affordable and if you are an investor you can get into the market for an inexpensive amount, and the returns are there.”
The prestigious suburb of Brookwater was not included in the data as there were fewer than 20 house and land sales in the past year.
Originally Published: https://www.qt.com.au