New Farm, 4005 ranked 120th in QLD when comparing growth in median property values or capital gain over the last 12 months. New Farm is one of 2415 in our list for QLD
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 471 on a list of fastest fasting appreciating suburbs in QLD
Vendor discounting in New Farm is giving property investors an average Vendor Discount of around -8.35%. This puts suburb at number 232th in QLD when ranking the most discounted suburbs.
Property investors who have had real estate in New Farm, 4005 should be relatively unhappy with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -1.74%
Across a shorter period, New Farm, 4005 has seen a median price increase of 2.03% over the last quarter.
The most recent median price for New Farm is $565000, with sellers offering an average of -6.92% off the asking price.
Using the current median advertised rental of $420 and the average annual increase in value of a median property of 4.69%, investors should hope to achieve an overall return of 3.87%
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.”