Investment property in New Farm has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 14.49%
New Farm,4005 has offered an average of 14.49% return per annum in house price rises to property investors over the last three years.
Vendor discounting in New Farm is giving property investors an average Vendor Discount of around -8.42%. This puts suburb at number 208th in QLD when ranking the most discounted suburbs.
On average over the past year, suburb has had 5.50 sales per month, which equates to 66 per year.
Property investors should expect to get $620 weekly from the median priced house in this suburb.
Giving property investors a an unimpressive capital gain of -2.27% for the last year, New Farm, 4005 is the 1280th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, New Farm has given property investors a paper return of 0.00%. This puts Suburb as 156 on a list of fastest fasting appreciating suburbs in QLD
Property buyers and investors in New Farm 4005 should be seeing an average reduction in asking price of around -6.35% . This means that New Farm is holding prices well when compared to other suburbs in QLD.
With the median price for a house in New Farm being $560000 and the advertised rent reaching $430 the gross rental yield for property investors calculates out to be 3.99%
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.”