The Ipswich suburb attracting interstate investors
A LITTLE slice of Ipswich is in high demand among interstate investors.
They're cashed up professionals, families and homebuyers who are moving north in search of a bit of space, a convenient lifestyle and enough incentive for future growth to want to give up on big-city living in the southern states.
Karalee is delivering. Palace Property Agents sales executive Jacob Ayre says he knows what the attraction is.
He says half of interested property buyers are preparing for a move from NSW or Victoria while, on average, the other half already live in Ipswich or a nearby city and want to upgrade.
"What everyone seems to want is a lifestyle change and a bit of land. That's the request every single time and it makes a lot of sense," Mr Ayre said. "A lot of interstate buyers cannot believe the value for money."
A three or four-bedroom home in Karalee normally sells for just more than $557,000 with higher demand per property than most suburbs in Queensland - and it's growing by more than 2.4 per cent a year.
More than a quarter of properties in Karalee are home to families with mature children; older couples and retirees occupy just over 24 per cent of homes, and families with young children call 16.1 per cent of properties in Karalee home.
Mr Ayre said significant development in the suburb, including the shopping centre upgrade, was the cherry on top of the property cake for buyers looking for a larger block and close proximity to the city without the Sydney or Melbourne price tag.
Mr Ayre said a home on Junction Rd was recently put on the market with a 4ha back yard - a rare incentive for a suburban home.
"There's room to run cattle for someone who wants a hobby farm and that's rare so close to the CBD," he said.
The property has been a family home for 30 years and sellers Karen Jones and Chris Foreman have spent decades raising their children there.
Ms Jones said the neighbouring properties had become smaller and smaller over that time but subdivision was not a priority for them.
It means the home and land is now a rare jewel on the property market among the typical 4000sq m house blocks.
"We bought it in 1989 before we had children, then we had three children and they absolutely loved it," Ms Jones said. "We would dearly love for someone else to have the same enjoyment we have had there. That would be nice to see."
Development encourages 'bright future' for suburb
KARALEE has what home buyers want and if it doesn't, it's going to get it.
There are high hopes that plans for an $80m upgrade to double the Karalee Shopping Village will inject a new wave of enthusiasm into the suburb's property market. In August, plans were revealed to build a 3900sq m Coles supermarket and 12 speciality shops next to the existing 3429sq m Woolworths-anchored centre.
The extension would add a new full-line Coles supermarket, 15 speciality shops and about 320 new carparking spaces.
Palace Property Agents sales executive Jacob Ayre said the development would add to the convenience of modern-day acreage living.
"Karalee has a very bright future for itself," Mr Ayre said.
"The development is going to support an increase in property prices and buyers increasingly look to purchase in the suburb.
"People are excited to see what's going to be there - it adds to the wow factor and people get a rush out of that. It's the cause of drive for growth and it will increase the quality of lifestyle."