At number 3148th in the list of Australian suburbs ordered by increase in median house value over the last year, New Farm, 4005 is in the BOTTOM 30% with a property value increase of -0.32% recorded in median house prices.
The five-year average increase in median property values for New Farm,4005 has given property investors a potential capital gain of 34.62% across each of those five years.
Our latest figures would indicate that property sellers in New Farm are currently offering property investors an average price cut of -6.73% below the asking price at the moment.
Advertised rents are around the $710 mark per week – giving a return of 2.34% based on the median price in Suburb
New Farm is an average performer in QLD when comparing median price capital growth over the last year. New Farm gave property investors a average capital gain figure when compared to the rest of the state, with -0.52%.
Comparing New Farm,4005 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 117th 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.
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.”