Ipswich stars in several southeast property market rankings
IPSWICH remains the most affordable place for people to buy a home in the Greater Brisbane area, with new data showing prices are on the up.
The Real Estate Institute of Queensland's Market Monitor report has found Ipswich had an annual median house price growth of 3 per cent in the past year, to $345,000.
Five suburbs in outer Brisbane reported a double-digit annual median house price growth in the range of 10 per cent to 17 per cent for the past year.
Flinders View, Ripley and Rosewood led the growth tally, followed by Murrumba Downs and Bongaree in Moreton Bay.
The unit market, on the other hand, was subdued, with the annual median unit price falling 5.6 per cent, to $311,500, for September.
The REIQ classes home sales in outer Brisbane markets as rising markets.
They are predicted to perform well in 2019.
The unit markets in Ipswich and Moreton Bay are classed as falling.
For renters, it's good news.
The 2019 outlook for the rental market is stable, the REIQ report notes.
Vacancies in Ipswich tightened slightly to 2.4 per cent, remaining on the boundary between the tight and healthy range. Demand for rental dwellings increased 6.6 per cent for the past year as
Yields for houses and units held relatively steady over the past quarter and past year.
Houses in Ipswich returned the largest gross rental yield in outer Brisbane, with 4.7 per cent in September.
REIQ chief executive officer Antonia Mercorella said the growth proved Queensland real estate was a good investment and could be relied upon to deliver capital growth.
"While other markets around the country are struggling in the face of tightened lending criteria and cooling investor appetite, the southeast corner of Queensland continues to deliver steady, sustainable growth," she said.
"Queensland's economy is proving itself to be a good performer, against a backdrop of national gloom, with new jobs bringing population growth and demand for housing."
Riverview has the smallest stock on market, with 5.2 per cent at a median price of $237,000.
A positive outlook for the market comes ahead of significant economic and infrastructure investment from the private and public sector.
The construction of the $170 million Military Vehicle Centre of Excellence in Redbank, is expected to start in the first quarter of 2019.