Giving property investors a an unimpressive capital gain of 2.53% for the last year, New Farm, 4005 is the 2661th highest performer in Australia in this respect.
New Farm,4005 was ranked 3780 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that New Farm is offering property investors an average of -7.05. This rate of discount on properties puts Suburb at number 296th in terms of most discounted suburbs in QLD
At number 2196 in a list of fastest selling suburbs, New Farm is just in the bottom half of suburbs in Australia with an average of days on market 85.18 for properties listed there.
Situated 1.76km from the CBD, New Farm is one of Brisbane localities in the postcode 4005.
Over the last year, property investments in New Farm, 4005 have given investors a capital gain of 7.14%. This compares favourably with the 0.74% for QLD as a whole.
Comparing New Farm,4005 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for New Farm is $600000, with sellers offering an average of -6.54% off the asking price.
On average over the past year, suburb has had 18.33 sales per month, which equates to 220 per year.
Situated 1.74km 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.”