Data reveals this Ipswich suburb is the one to watch
GOODNA remains the cheapest suburb to buy a house in Ipswich, where you can often get into the property market for under $250,000.
According to CoreLogic, coming in at number one for the past twelve months, the median price of property sold in Goodna is $215,000 with Riverview second at a median price of $237,000.
Ebbw Vale came in third with a median price of $500 more.
Ray White Goodna principal Rudy Grommen said after selling properties in the Goodna area for the past 17 years, the suburb continued to be attractive to potential buyers.
"I think that median price is something not to get too hung-up about as that also includes units and land sales," Mr Grommen said.
"If you're looking at homes with four bedrooms, double lock-up garage and ensuite you can expect to pay around the $310,000 to $335,000 price range.
"For a Goodna home with three bedrooms, one bathroom and a single lock-up garage you would pay between $270,000 to $320,000.
"The majority of buyers in my experience are investors, mostly from interstate and I'd say they represent about 65 per cent of buyers at the moment."
Goodna was hit the hardest by the floods in 2011, but surprisingly Mr Grommen thinks today, the floods are not responsible for the bargains in the suburb; in fact, quite the opposite.
"When the floods happened in 2011, my office got flooded," he said.
"I think people seem to forget about those things very quickly.
"The first six or twelve months, yes, it had an effect, but after that not at all."
Homes in Goodna are selling quickly and the market is driven by interest rates.
Once rates go up again, investors will start pulling out and property prices may drop slightly.
"We've been saying that Goodna is a sleeping giant for a long time," Mr Grommen said.
"I think it's a great suburb in a great location and it's very accessible.
"I think over time it will be highly sought after."
It is understandable investors have Ipswich in their sights.
For the price of a small three-bedroom home in the New South Wales capital of Sydney, you could buy three or four homes in several suburbs across Ipswich and still have change from a million dollars.
"If you look at the prices in Sydney and the rental returns you'd get... it's really not that great," Mr Grommen added.
Ipswich's Best Value Suburbs
Median price change in the past year
- Goodna: $215k, +1.4 per cent
- Riverview: $237k, -4.8 per cent
- Ebbw Vale: $237k, -15.2 per cent
- Leichhardt: $242,875, +2.3 per cent
- Dinmore: $250k, -1 per cent
- Gailes: $255k, +0.7 per cent
- One Mile: $262,500, +7.1 per cent
- East Ipswich: $266,750, -1.2 per cent
- Marburg: $270k, -17.6 per cent
- Brassall: $273,500, -2 per cent