Over the last year, property investments in Norman Park, 4170 have given investors a capital gain of 11.44%. This compares very favourably with the 2.22% for QLD as a whole.
A 29.36% growth in median value for property investors in Norman Park,4170 puts this suburb at number 99th in terms of best performing suburbs in QLD
LACK OF BUYER INTEREST may well be the reason that Norman Park is offering property investors an average of -7.23. This rate of discount on properties puts Suburb at number 617th in terms of most discounted suburbs in QLD
In the last year 123 properties changed hands in Norman Park, which puts it as the 175th most active market in QLD when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $6120 per annum or $510 every week.
Property value increases in Norman Park have tracked close to the QLD average of 1.23% over the last 12 months.
Across a shorter period, Norman Park, 4170 has seen a median price increase of 3.91% over the last quarter.
The most recent median price for Norman Park is $498750, with sellers offering an average of -4.59% off the asking price.
Situated 3.39km from the CBD, Norman Park is one of Brisbane localities in the postcode 4170.
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.