Ipswich PRD Market Update 2nd Half 2019

In Q3 2019, Ipswich recorded a median house price of $310,000, and a median unit price of $240,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -3.4% for houses and -7.1% for units. At the same time total sales slowed, down by -45.5% for houses to 96 sales and by -37.5% for units to 20 sales. With higher price affordability and less market competition Ipswich is a prime market for first home buyers and investors.

Average vendor discount between Q3 2018 and Q3 2019 has widened for houses to -5.6% and tightened for units to -6.3%. House market conditions in Ipswich continue to favour buyers, with sellers providing slightly higher discounts. Data indicates there is high negotiation activity between buyers and sellers in the unit market, with final prices closer to the first asking prices.

Over the past 12 months, house rental yields in Ipswich increased strongly to reach 4.8% in June 2019. This is well above that of Ipswich LGA (4.5%) and Brisbane Metro (3.8%). This suggests the house rental market is in a healthy position, as the house rental median price increased by 5.0% to $315 per week.

3 bedroom houses have provided investors with +3.3% rental growth annually, achieving a median rent of $310 per week.

Ipswich recorded a vacancy rate of 2.3% in June 2019, indicative of a declining trend and sitting below Ipswich LGA (2.5%) and Brisbane Metro (2.5%). This confirms a healthy rental demand exists for properties in Ipswich.