Property investors who have had real estate in New Farm, 4005 should be pleased with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.71%
New Farm,4005 has offered an average of 13.71% return per annum in house price rises to property investors over the last three years.
At number 251th of QLD’s most discounted properties, New Farm is in the bottom 40% of the state/territory when listing in order of most discounted to least.
In the last year 72 properties changed hands in New Farm, which puts it as the 327th most active market in QLD when comparing the number of sales per suburb.
Advertised rents are around the $635 mark per week – giving a return of 2.03% based on the median price in Suburb
New Farm is in the bottom 40% in QLD when comparing median price capital growth over the last year. New Farm gave property investors a disappointing capital gain figure when compared to the rest of the state, with -2.39%.
While New Farm,4005 ranked number 167th in QLD for increase in median house value (annualised) increase, it is ranked 153th over the last 5 years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in New Farm, 4005. Typically our figures indicate that -6.56% is being offered, which puts this QLD suburb at 344th most discounted overall in Australia.
In the last year 256 properties changed hands in New Farm, which puts it as the 22th most active market in QLD when comparing the number of sales per suburb.
The QLD suburb of New Farm, 4005 is in the Brisbane local government area.
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.”