Property value increases in Kelvin Grove have tracked higher than the QLD average of 2.11% over the last 12 months.
Kelvin Grove,4059 was ranked 845 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Kelvin Grove are currently offering property investors an average price cut of -4.24% below the asking price at the moment.
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 -8.33%.
Taking the average capital gain, or increase in median house value, Kelvin Grove,4059 has racked up an average of -8.33% over the period. This ranks it number 1470th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Kelvin Grove 4059 should be seeing an average reduction in asking price of around -5.28% . This means that Kelvin Grove is holding prices well when compared to other suburbs in QLD.
Often selling an investment property can take time, and in Kelvin Grove the average time real estate has been on the market is 83.7 days.
Property investors should expect to get $425 weekly from the median priced house in this suburb.
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