If you compare the increase in value of investment property in Norman Park, 4170 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this QLD suburb was 10.37%.
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.
At number 713th of QLD’s most discounted properties, Norman Park is in the TOP 20% of the state/territory when listing in order of most discounted to least.
In the last year 105 properties changed hands in Norman Park, which puts it as the 219th most active market in QLD when comparing the number of sales per suburb.
Using the current median advertised rental of $510 and the average annual increase in value of a median property of 7.04%, investors should hope to achieve an overall return of 2.95%
Norman Park, 4170 ranked 46th in QLD when comparing growth in median property values or capital gain over the last 12 months. Norman Park is one of 2415 in our list for QLD
Taking the average capital gain, or increase in median house value, Norman Park,4170 has racked up an average of 11.40% over the period. This ranks it number 505th in the whole country for real estate investors looking at median house price increases.
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 Norman Park, 4170. Typically our figures indicate that -7.43% is being offered, which puts this QLD suburb at 232th most discounted overall in Australia.
Property investors should expect to get $440 weekly from the median priced house in this suburb.
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.