Suburb Profile Report for Woolloongabba QLD (4102)

Woolloongabba House: Median price $775,000, Annual capital growth 6.53%, Number of sales 58, Weekly median advertised rent $480

Woolloongabba Unit: Median price $458,500, Annual capital growth 4.15%, Number of sales 203, Weekly median advertised rent $445

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

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Woolloongabba is in the bottom 40% in QLD when comparing median price capital growth over the last year. Woolloongabba gave property investors a disappointing capital gain figure when compared to the rest of the state, with -0.64%.

Over the longer term, Woolloongabba has seen property prices show investors a 30.69% return over the last 3 years. This is worse than over the last 12 months

State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.32% offered to property buyers. Sellers in Woolloongabba itself are offering an average vendor discount of -6.37% to real estate investors.

On average over the past year, suburb has had 4.83 sales per month, which equates to 58 per year.

A $480 per week rent on the median house gives suburb investors a gross yield of circa 3.22%, without taking into account capital value appreciation, which has been averaging out at 6.53%.

Property value increases in Woolloongabba have tracked lower than the QLD average of 0.98% over the last 12 months.

Comparing Woolloongabba,4102 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Sellers are offering property buyers an average discount of -5.58% to buyers in Woolloongabba at the moment, which is less than average for the rest of QLD.

Often selling an investment property can take time, and in Woolloongabba the average time real estate has been on the market is 82.79 days.

Situated 0.59km from the CBD, Woolloongabba is one of Brisbane localities in the postcode 4102.

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Woolloongabba’s only around 3km south of the Brisbane CBD, and it’s this inner-city location, combined with the area’s regeneration, that makes it worth keeping an eye on.

Full summary

Woolloongabba’s only around 3km south of the Brisbane CBD, and it’s this inner-city location, combined with the area’s regeneration, that makes it worth keeping an eye on.

The area has hit a slow patch in terms of capital growth, says PRDnationwide analyst Josh Brown, but he pegs it as a suburb that’s well worth going into now to pick up a unit – as the market conditions dictate that buyers can bargain hard on the price and hold for long-term growth.

“A large portion of this suburb was also declared an Urban Development Area in April 2010, which will transform the region and provide strong capital growth for investors who are willing to hold the property for a number of years,” he says.

In the meantime, the average unit yield is holding up well and Brown expects this figure to rise as the city’s rental market tightens. Census data indicates that 50% of the suburb’s occupants are renters, and SQM Research predicts that this number will increase to 56% over the next five years.

Hot Property Specialists’ Liz Wilcox notes that, as Woolloongabba’s becoming a higher density urban precinct, there’s a lot of new unit stock coming on to the market and it’s these newer properties that investors should be targeting.

“The old boxes don’t get such good rental returns, as there are a lot of young professional tenants in that area and they’re looking for more modern properties,” she says.

Woolloongabba has a couple of train stations within walking distance (Buranda and Dutton Park), while the Pacific Motorway takes bus users and motorists to the heart of the city. Amenities are plentiful and of course the world famous Gabba cricket ground can be found a couple of kilometres north of central Woolloongabba towards Kangaroo Point.

Close
HOUSE UNIT
$775,000 $458,500
0.00% -1.19%
-0.64% -9.21%
6.53% 4.15%
$480 $445
58 203
3.22% 5.05%
33.8 82.79

Source: CoreLogic

DSR Score for property investment : Above average (H), Below average (U)
Find a mortgage broker in Woolloongabba QLD
Demographics
Total population 4788
Median household income ($/weekly) 1330
Median age of persons 31
Median housing loan repayment ($/monthly) 2200
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 754 15.7
    25-34 years 1219 25.5
    35-44 years 696 14.5
    45-54 years 539 11.3
    55-64 years 369 7.7
    Others 1212 25.3
    Age Group
    Census Count Percent(%)
    Not Married 2171 59.4
    Registered Married 992 27.1
    Defacto Relationship 491 13.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2628 60.6
    Indonesia 148 3.4
    Papua New Guinea 149 3.4
    United Kingdom 177 4.1
    Other 366 8.4
    Others 868 20.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 247 6.0
    Christianity 2052 50.1
    Hinduism 145 3.5
    Islam 113 2.8
    No Religion 1464 35.8
    Others 72 1.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 131 7.9
    $400-$599 133 8.1
    $1,500-$1,999 226 13.7
    $2,000-$2,499 140 8.5
    $2,500-$2,999 154 9.3
    Others 864 52.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1606 41.8
    Not in the labour force 1087 28.3
    Employed, worked part-time 821 21.4
    Unemployed, looking for work 192 5.0
    Employed, away from work 132 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 259 10.1
    Professionals 811 31.7
    Technicians & trades workers 254 9.9
    Community & personal service workers 272 10.6
    Clerical & administrative workers 346 13.5
    Others 615 24.1
    Occupation
    Census Count Percent(%)
    Infants/Primary 203 15.9
    Secondary 139 10.9
    Technical or Further Educational Institution 131 10.3
    University or other Tertiary Institutions 690 54.1
    Other type of educational institution 79 6.2
    Others 33 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2642 62.4
    Flat, unit or apartment 1408 33.3
    Semi-detached, row or terrace house, townhouse 171 4.0
    House or flat attached to a shop, office 12 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1060 60.3
    Being purchased 396 22.5
    Fully owned 291 16.5
    Other tenure type 12 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals