Property investors who have had real estate in Norman Park, 4170 should be ok with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 2.08%
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 641th of QLD’s most discounted properties, Norman Park is in the TOP 30% of the state/territory when listing in order of most discounted to least.
At number 516 in a list of fastest selling suburbs, Norman Park is in the TOP 20% of suburbs in Australia with an average of days on market 50.94 for properties listed there.
Advertised rents are around the $500 mark per week – giving a return of 3.21% based on the median price in Suburb
At number 202th in the list of Australian suburbs ordered by increase in median house value over the last year, Norman Park, 4170 is in the top 20% with a property value increase of 15.18% recorded in median house prices.
A 25.51% growth in median value for property investors in Norman Park,4170 puts this suburb at number 19th in terms of best performing suburbs in QLD
The most recent median price for Norman Park is $552863, with sellers offering an average of -6.15% off the asking price.
Often selling an investment property can take time, and in Norman Park the average time real estate has been on the market is 67.77 days.
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.