It has only taken three years, but Roger Garreau and Victoria Pinturut are already reaping the rewards from investing in Ipswich.
The couple bought their three-bedroom Queenslander for $525,000 in 2022 and have watched gleefully as houses in the same street changed hands for $1.3m and $1.5m in the past 12 months.
The Ipswich region has been identified as one of the best areas to invest in property based on rental returns, capital growth, and rental days on market, according to new research from PropTrack.
Roger Garreau and Victoria Pinturut bought this investment property in Ipswich three years ago. Picture: Annette Dew.
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This is the sixth Ipswich property the couple has invested in, either together or as a joint venture with others.
“We went for a drive out here in 2020 and we fell in love,” Mr Garreau said. “We realised the houses were like those in Ascot and Paddington — but so cheap.
“That’s why we bought out here and started buying and selling here.”
This Lion Street, Ipswich, property sold for $525,000 in 2022. Image supplied.
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Mr Garreau estimates their latest investment is now worth at least $900,000 after they gave it a cosmetic makeover.
They plan to list the property on the short-term rental market for $300 a night.
“There’s a massive demand here for not only short-term rentals, but houses to rent that suit couples and singles,” he said.
The Lion Street, Ipswich, property after a cosmetic renovation. Image supplied.
The couple also owns a bar called Monte Lane in Ipswich and a property business, called Urban Uplift, where they help investors and homeowners with market research, feasibility, interior design, budgeting, and pre-sale renovations to add value before listing or renting.
“Ipswich is rapidly growing, but there are still pockets (to invest in) and it’s still more affordable than Brisbane,” Mr Garreau said.
“We’re seeing more and more young people move out here. The hospitality scene is growing and there are strong returns for investors.”
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