Bremer Valley Market Update 2 nd H a l f 2 0 2 4
OVERVIEW
In Q2 2024, Bremer Valley* recorded a median house price of $660,000, and a median vacant land price of $293,500. This represents significant annual (Q2 2023 – Q2 2024) growth of 17.9% for houses and 17.4% for vacant lands. Total sales decreased in the past 12 months to Q2 2024, by -22.5% for houses and -48.3% for vacant land, thus an undersupplied market for both property types. This has created a buffer against higher interest rates, thus price growth. On a quarterly basis (Q1 2024 – Q2 2024), median prices grew by 8.0% for houses and 7.1% for vacant lands. This confirms there is strong market in Bremer Valley*. This suggests now is an ideal time for homeowners to capitalize on their investments.
CHANGE FROM LAST
YEAR
HALF YEAR
FUTURE DEVELOPMENTS Ipswich LGA will see approximately $1.3B worth of new projects commencing in the 2nd half of 2024. Commercial Residential
$61.1M
Industrial
$30.5M
$99.8M
Mixed-Use
$292.8M
HOUSE SALE S
Infrastructure
HOUSE ME DIAN PRICE
$793.4M
HOUSE RE NTAL PRICE A strong focus on infrastructure projects will improve liveability for residents and create jobs during the construction phase. This makes Bremer Valley* an attractive place to live, thus higher housing demand.
LAND SALES LAND ME DIAN PRICE
Although there are several residential projects in Ipswich LGA, the closest one to Bremer Valley is the 10 Astral Court Residential Development Dahlia At Flinders View, which will add 140 Townhouses to the local market.
$ MARKET CONDITIONS MEDIAN PRICE Q2 2024
$660K
$293K
MEDIAN PRICE Q2 2024
$545
SALES
AVERAGE DAYS ON MARKET Q2 2024
26
58
HOUSE
L A N D
RENTALS
$325
Other incoming stock are social and affordable housing, such as Booval Social Housing Units and 33 Darling Street East Social Housing Units. With no new stand-alone houses in the pipeline this will push up prices even further, for all stock types. Thus, now is an ideal time for buyers to act.
AVERAGE DAYS ON MARKET Q2 2024
21
15
HOUSE
U N I T
503 Units/ Apartments
164 Townhouses
815 Lots