At number 1901th in the list of Australian suburbs ordered by increase in median house value over the last year, New Farm, 4005 is in the top half with a property value increase of 4.92% recorded in median house prices.
While New Farm,4005 ranked number 587th in QLD for increase in median house value (annualised) increase, it is ranked 103th over the last 5 years.
Sellers are offering property buyers an average discount of -8.07% to buyers in New Farm at the moment, which is less than average for the rest of QLD.
Residents and property investors in New Farm have been waiting around 100.72 days to sell a property.
Renters in Suburb are facing rents around $7680 per annum or $640 every week.
New Farm has had a quite poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -3.33% to date .
New Farm,4005 has offered an average of -3.33% 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 -7.11% . This means that New Farm is holding prices well when compared to other suburbs in QLD.
Advertised rents are around the $430 mark per week – giving a return of 4.06% based on the median price in 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.”