Ipswich suburb ranked in state's top 5 fastest selling
HOMES in one Ipswich suburb have been ranked one of the top five fastest selling in the state.
It takes just 19 days to sell a house in Newtown, where blocks are big, homes are historic and the streets are wide.
That short number of days on market makes Newtown the fifth fastest selling suburb in Queensland, according to the latest report from the Real Estate Institute of Queensland.
The figure was no surprise to Ipswich real estate agent Darren Boettcher who said Newtown was a highly sort after area close to transport, shops, Ipswich Girls Grammar and other amenities.
Mr Boettcher was however surprised to see the rapid increases in prices for some Ipswich suburbs.
Over the past five years, sale prices in Brookwater have jumped 41.5%, to an average price of $520,000 up from $367,500.
"That just blew my socks off," Mr Boettcher said.
The latest REIQ report shows prices in Eastern Heights have increased by 32% in the past five years, while Flinders View is up 13.6% in the past 12 months alone.
"Prices in Ipswich itself (the suburb) are up 33.3% in the last five years," Mr Boettcher said.
"It's great to see. Ipswich is a rising market but we do need a price correction - it's too cheap."
An average house in Ipswich will set buyers back between $340,000 and $360,000.
"It will start getting out of hand in about three years," Mr Boettcher said.
"By then, the median price will be about $400,000 to $450,000."
Average sale price (top suburbs)
Augustine Heights: $532,500
Deebing Heights: $436,000
Springfield Lakes: $440,000
Top suburbs for sales
Springfield Lakes: 374
Redbank Plains: 315
Bellbird Park: 106