Residential land showing strong growth over consecutive years

first_imgBrookwater estate is one of the many developments in Ipswich meeting strong market demand for vacant residential land. Photo — Patria JannidesFOUR consecutive years of growth shows the Ipswich residential land market is going strong.Recent research from Ray White Commercial shows that the region continues to enjoy strong growth with all major indicators showing positive results.Ray White land marketing director Jamie Martin said the results from ‘Between the Lines — Ipswich City Vacant Land Report January 2017’ showed good results for the region.“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,” Mr Martin said. More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor8 hours ago“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.”The median price per square metre for land achieved a new high of $435sq m with a median vacant land price of $192,500.“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,” Mr Martin said.He said indicators such as reduced lot sizes, strong increases in land values and improved house and land package sales rates, emphasised the ongoing demand for housing in the region.“The value per square metre has increased on average 8.22 per cent per annum over the last nine years,” Mr Martin said.“Ipswich City provides 7,190ha of land suitable for residential development, with potential to deliver over 101,000 dwellings.“This region represents an important growth corridor for South East Queensland with significant scope for future residential land development opportunities.”last_img

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