QLD has seen average median house prices change by 2.40% which means that Norman Park, 4170 has done well for property investors by showing a capital gain of 9.06% over the last year
Over the longer term, Norman Park has seen property prices show investors a 24.49% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Norman Park is giving property investors an average Vendor Discount of around -6.69%. This puts suburb at number 371th in QLD when ranking the most discounted suburbs.
Norman Park is 715th on a list of best yielding suburbs for rents in QLD with a 3.24% return
If you compare the increase in value of investment property in Norman Park, 4170 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this QLD suburb was -3.50%.
Norman Park,4170 was ranked 1093 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Norman Park is offering property investors an average of -5.70. This rate of discount on properties puts Suburb at number 220th in terms of most discounted suburbs in QLD
In the last year 45 properties changed hands in Norman Park, which puts it as the 183th most active market in QLD when comparing the number of sales per suburb.
The QLD suburb of Norman Park, 4170 is in the Brisbane local government area.
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.