Property value increases in Kelvin Grove have tracked close to the QLD average of 2.40% over the last 12 months.
Across a shorter period, Kelvin Grove, 4059 has seen a median price increase of -0.47% over the last quarter.
Our latest figures would indicate that property sellers in Kelvin Grove are currently offering property investors an average price cut of -2.55% below the asking price at the moment.
Renters in Suburb are facing rents around $5940 per annum or $495 every week.
Kelvin Grove has had a quite poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -0.97% to date .
Across a shorter period, Kelvin Grove, 4059 has seen a median price increase of 0.00% over the last quarter.
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 -4.69% is being offered, which puts this QLD suburb at 830th most discounted overall in Australia.
With the median price for a house in Kelvin Grove being $460000 and the advertised rent reaching $432.5 the gross rental yield for property investors calculates out to be 4.89%
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