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| Augustine Heights - leads Ipswich's house prices |
The suburb of Augustine Heights has recorded the largest increase in Ipswich house prices in the past year, according to figures released by the Real Estate Institute of Queensland (REIQ).
Augustine Heights adjoins Brookwater and Springfield Central in Ipswich's eastern suburbs.
The median house price in Augustine Heights to December 2012 jumped 12.4% from $455,000 to $511,500.
East Ipswich came in second with a 9.8% increase ahead of Springfield Lakes (1.7%) scored the third highest increase in the city.
The median house price in East Ipswich was $252,500 and Springfield Lakes $378,900.
Surprisingly the Greater Springfield suburb of Brookwater, home to the prestigious Brookwater Golf course, failed to make the latest REIQ listings because of insufficient reportable sales in 2012.
The REIQ requires more than 7 house sales over the last quarter or more than 25 over the past year before a suburb is included in its data.
The Augustine Heights figures are even more impressive given they were exceeded only by the Brisbane suburbs of Chelmer and Wilston and were higher than all other southeast Queensland suburbs in Logan, Redland, Gold Coast, Moreton Bay and Toowoomba.
Local Councillor Paul Tully (Division 2) said the latest figures for Augustine Heights followed data from the last census which showed the suburb had the second highest percentage of 4-bedroom homes in Australia.
"This is great news for Ipswich's eastern suburbs and shows the city is moving forward from the disastrous years of the global financial crisis."
Cr Tully predicted Ipswich house prices would continue to increase over the next year.
Cr Tully predicted Ipswich house prices would continue to increase over the next year.
He said the commencement of residential development in the Ripley Valley would give Ipswich the largest array of house and land options of any city in southeast Queensland.
"Ipswich remains one of the fastest-growing regions in Australia and the western corridor will continue to experience unprecedented growth.
"Our current population is 175,000 and is tipped to hit 200,000 by the end of the decade."
