At number 2156th in the list of Australian suburbs ordered by increase in median house value over the last year, Norman Park, 4170 is in the BOTTOM 50% with a property value increase of 6.14% recorded in median house prices.
Over the longer term, Norman Park has seen property prices show investors a 22.55% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Norman Park is $890000, with sellers offering an average of -4.61% off the asking price.
At number 1952 in a list of fastest selling suburbs, Norman Park is just in the bottom half of suburbs in Australia with an average of days on market 76.79 for properties listed there.
Using the current median advertised rental of $500 and the average annual increase in value of a median property of 5.38%, investors should hope to achieve an overall return of 2.92%
Over the last year, property investments in Norman Park, 4170 have given investors a capital gain of 4.31%. This compares favourably with the 0.29% for QLD as a whole.
The five-year average increase in median property values for Norman Park,4170 has given property investors a potential capital gain of 28.92% across each of those five years.
Our latest figures would indicate that property sellers in Norman Park are currently offering property investors an average price cut of -7.53% below the asking price at the moment.
In the last year 68 properties changed hands in Norman Park, which puts it as the 142th most active market in QLD when comparing the number of sales per suburb.
Using the current median advertised rental of $435 and the average annual increase in value of a median property of 3.62%, investors should hope to achieve an overall return of 3.93%
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
Information supplied by:
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.