Strong Residential Land Market in Ipswich

Strong Residential Land Market in Ipswich

The residential land market in the Ipswich City Council region continues to enjoy strong growth with all major indicators showing positive results, says research from Ray White Commercial.

Ray White Land Marketing Director, Jamie Martin, said sales rates in the 12 months to June, 2016, reached their highest level since 2009 and the median price per sqm for land achieved a new high of $435 per sqm with a median vacant land price of $192,500.

“The results for Ipswich City highlight the strength of the land market in this growth region with house and land packages experiencing four consecutive years of growth,” Jamie Martin said in the Between the Lines – Ipswich City Vacant Land Report January 2017.

“All the major indicators have shown strong positive results including sales volume increases and the continued uplift in median values, all encouraging signs for this market.

“DA approvals are at normalised levels and still up over the last year, while the continued increases in registration levels highlight the depth of this market.

“Indicators such as reduced lot sizes, strong increases in land values and improved house and land package sales rates, emphasise the ongoing demand for housing in this location.

“The value per sqm has increased on average 8.22 per cent per annum over the last nine years.”

Jamie Martin said lot approvals increased by 2.32 per cent to 2,914 – ahead of the longer-term trend rate for the Ipswich City region.

“Ipswich City provides 7,190ha of land suitable for residential development, with potential to deliver over 101,000 dwellings,” he said.

“This region represents an important growth corridor for South East Queensland with significant scope for future residential land development opportunities.”

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