Property value increases in New Farm have tracked just higher than the QLD average of 2.11% over the last 12 months.
If we look at median property appreciation over just the last three months, New Farm has given property investors a paper return of -0.62%. This puts Suburb as 558 on a list of fastest fasting appreciating suburbs in QLD
Sellers are offering property buyers an average discount of -8.20% to buyers in New Farm at the moment, which is less than average for the rest of QLD.
New Farm has had a quite poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -3.48% to date .
Over the longer term, New Farm has seen property prices show investors a 1.65% return over the last 3 years. This is worse than over the last 12 months
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 -7.16% is being offered, which puts this QLD suburb at 245th most discounted overall in Australia.
Situated 1.78km from the CBD, New Farm is one of Brisbane localities in the postcode 4005.
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.”