New Farm, 4005 ranked 237th 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
Taking the average capital gain, or increase in median house value, New Farm,4005 has racked up an average of 7.00% over the period. This ranks it number 1018th in the whole country for real estate investors looking at median house price increases.
The most recent median price for New Farm is $1605000, with sellers offering an average of -8.44% off the asking price.
Residents and property investors in New Farm have been waiting around 107.85 days to sell a property.
The QLD suburb of New Farm, 4005 is in the Brisbane local government area.
Giving property investors a a poor capital gain of -4.90% for the last year, New Farm, 4005 is the 1407th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, New Farm,4005 has racked up an average of -4.90% over the period. This ranks it number 1356th in the whole country for real estate investors looking at median house price increases.
New Farm, 4005 is offering QLD ‘s 78th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this QLD.
In the last year 237 properties changed hands in New Farm, which puts it as the 29th most active market in QLD when comparing the number of sales per suburb.
Using the current median advertised rental of $420 and the average annual increase in value of a median property of 4.04%, investors should hope to achieve an overall return of 3.96%
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
Information supplied by:
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.”