At number 1952th in the list of Australian suburbs ordered by increase in median house value over the last year, Norman Park, 4170 is in the top half with a property value increase of 5.75% recorded in median house prices.
While Norman Park,4170 ranked number 766th in QLD for increase in median house value (annualised) increase, it is ranked 91th over the last 5 years.
Norman Park4170 is located in QLD which offers an average discount of -7.21% to property investors. Norman Park itself is showing figures that indicate -4.55% is the average achievable by property buyers investing in the suburb.
If you compare the increase in value of investment property in Norman Park, 4170 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this QLD suburb was 12.19%.
When looking at the potential capital gains offered to property investors over the last 3 years, Norman Park comes in at number 59th in QLD.
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 -6.27% is being offered, which puts this QLD suburb at 421th most discounted overall in Australia.
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.