With a capital gain of 8.98% for the last 12 months, Norman Park, 4170 has performed for property investments than its average annual 7.06% property growth over the last 5 years.
Across a shorter period, Norman Park, 4170 has seen a median price increase of 3.53% over the last quarter.
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 -4.77% is being offered, which puts this QLD suburb at 2730th most discounted overall in Australia.
On average over the past year, suburb has had 10.25 sales per month, which equates to 123 per year.
Situated 3.74km from the CBD, Norman Park is one of Brisbane localities in the postcode 4170.
Over the last year, property investments in Norman Park, 4170 have given investors a capital gain of 25.71%. This compares very favourably with the 0.98% for QLD as a whole.
Norman Park,4170 was ranked 128 in Australia by increase in median property value over the quarter.
The most recent median price for Norman Park is $616000, with sellers offering an average of -6.35% off the asking price.
A $435 per week rent on the median house gives suburb investors a gross yield of circa 3.67%, without taking into account capital value appreciation, which has been averaging out at 6.71%.
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.