Property investors who have had real estate in Norman Park, 4170 should be ok with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.77%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Norman Park has increased when compared to the 5 year average annual rate.
Property buyers and investors in Norman Park 4170 should be seeing an average reduction in asking price of around -4.81% . This means that Norman Park is holding prices well when compared to other suburbs in QLD.
In the last year 103 properties changed hands in Norman Park, which puts it as the 227th most active market in QLD when comparing the number of sales per suburb.
Advertised rents are around the $510 mark per week – giving a return of 3.01% based on the median price in Suburb
Norman Park has had a A very good year for property investment returns compared to the rest of QLD, giving investors a capital gain of 9.36% to date .
Norman Park,4170 was ranked 859 in Australia by increase in median property value over the quarter.
The most recent median price for Norman Park is $596000, with sellers offering an average of -7.75% off the asking price.
Using the current median advertised rental of $430 and the average annual increase in value of a median property of 5.11%, investors should hope to achieve an overall return of 3.75%
Norman Park, located just 4km from the Brisbane CBD is one of those suburbs currently flying under the radar as the spotlight shines on its more famous neighbours. In Norman Park’s case, it’s Bulimba getting all the attention.Full summary
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Norman Park, located just 4km from the Brisbane CBD is one of those suburbs currently flying under the radar as the spotlight shines on its more famous neighbours. In Norman Park’s case, it’s Bulimba getting all the attention.Close
Yet, looking closely, the suburb has fundamentals to support a solid growth in property values in the future, thanks to its extensive parklands that are continuing to attract families. The tranquil environment is also attractive to retirees who want to live closer to the CBD.
Residents enjoy a range of public transport options including trains, buses and ferries or city cat.
The suburb also boasts a number of high quality schools including the Norman Park State School, Seven Hills Primary School and St Thomas’ Catholic School.
“Long term, potential is for Norman Park to outperform – its proximity to the city, its diversity of residential opportunities, and the investment in main road upgrades all allow for buyers to capitalise as Norman Park enters a growth cycle,” says Lachlan Walker, director with Place Advisory.
Norman Park’s residential market is diverse – with opportunities ranging from prestige riverfront (some of the highest recorded house sales) to more affordable post-war homes according to Walker. “As an investor, you should be looking for property close to transport. Also investigate some of the smaller, new boutique residential buildings coming out in the area at very affordable prices,” he says.
For the renovators, post-war homes and Queenslanders are scattered throughout the area – look to add value with these properties.