At number 2102th in the list of Australian suburbs ordered by increase in median house value over the last year, Kelvin Grove, 4059 is in the BOTTOM 50% with a property value increase of 6.54% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Kelvin Grove comes in at number 265th in QLD.
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 Kelvin Grove, 4059. Typically our figures indicate that -7.57% is being offered, which puts this QLD suburb at 821th most discounted overall in Australia.
Renters in Suburb are facing rents around $6000 per annum or $500 every week.
Kelvin Grove is in the bottom 20% in QLD when comparing median price capital growth over the last year. Kelvin Grove gave property investors a dismal capital gain figure when compared to the rest of the state, with -9.68%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kelvin Grove has fallen somewhat when compared to the 5 year average annual rate.
Property investors looking for a bargain in Kelvin Grove should be aiming for at least -5.55% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $5100 per annum or $425 every week.
Kelvin Grove lies just 2km north of the Brisbane CBD, and is best known as the home of the Queensland University of Technology.Full summary
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Opportunities to buy seem to have become harder to find in Kelvin Grove over the past 12 months, according to Real Estate Investar.
Figures for the suburb in Brisbane’s northwest show that stock levels have fallen by 34.3% during that period.
Likely helping the suburb’s popularity with buyers is the fact that it’s home to the Queensland University of Technology Kelvin Grove Campus, making it a prime location for university students looking for accommodation.
Stock levels of both houses and units have fallen over the past year, although the conditions in these two markets have been different.
The median house price currently sits at $750,000, having grown 11% in the past year.
Units, on the other hand, are more affordable, at a median price of $475,000, but have only seen growth of 1% in the past 12 months.
The suburb is within walking distance of the CBD, and as such isn’t on any train lines. However, it is well served by local buses, and is within easy reach of the inner city bypass leading west out of the city, and linking to the M1 leading north and south. Streets are typically wide and tree-lined, and there are a number of parks in the area – as well as a golf course to the east of the suburb.
As you’d expect, it’s a student-heavy suburb: the ABS reports that 20% of the suburb’s population are in higher or technical education, and around half of the properties are rented. However, it’s also popular with young city and medical professionals, which make up 17% of the suburb's workersClose