With a capital gain of 5.13% for the last 12 months, New Farm, 4005 has performed for property investments than its average annual 6.03% property growth over the last 5 years.
New Farm,4005 has offered an average of 5.13% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in New Farm 4005 should be seeing an average reduction in asking price of around -7.18% . This means that New Farm is holding prices well when compared to other suburbs in QLD.
Situated 1.83km from the CBD, New Farm is one of Brisbane localities in the postcode 4005.
Over the last year, property investments in New Farm, 4005 have given investors a capital gain of 2.11%. This compares averagely with the 0.48% for QLD as a whole.
Taking the average capital gain, or increase in median house value, New Farm,4005 has racked up an average of 2.11% over the period. This ranks it number 1154th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in New Farm is giving property investors an average Vendor Discount of around -6.57%. This puts suburb at number 101th in QLD when ranking the most discounted suburbs.
In the last year 217 properties changed hands in New Farm, which puts it as the 29th most active market in QLD when comparing the number of sales per suburb.
Property investors should expect to get $420 weekly from the median priced house in this suburb.
An inner suburb of Brisbane is currently seeing average annual growth of 13%. Blessed with excellent public transport and an abundance of restaurants and shops, it brims with investment potential. Read on to find out what suburb it is.Full summary
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New Farm is an inner city suburb of Brisbane with excellent public transport option and an abundance of restaurants and shops. Formerly dominated by Italian migrants, the suburb has since undergone gentrification and has become one of the most desirable suburbs in Brisbane.
Josh Brown, research analyst with PRDnationwide says the suburb is particularly attractive to younger residents because they are well-positioned and are close to the Brisbane CBD.
“There’s been a lot of developments in these areas and they’ve become trendy suburbs with lot of cafes and bistros and they’re close to shopping district and features that appeal to young professionals,” he says.
Median house price stayed stagnant up until around 2002 when it jumped to more than double in 2005. Price peaked at $1,140,000 around June 2008. It fell sharply in 2009 but it has bounced back since to its current level.
Looking ahead, Brown says future growth in house price might be slower than the rate it has recorded over the past 30 years because growth has already been substantial growth and there’s already significant amenity in the area.
“Unless there’s a large scale development going into the area that doesn’t impede the existing residence that can affect value, then growth would be lower than the previous decades.”