Property value increases in Norman Park have tracked just higher than the QLD average of 2.39% over the last 12 months.
Over the longer term, Norman Park has seen property prices show investors a 22.22% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -4.39% to buyers in Norman Park at the moment, which is less than average for the rest of QLD.
With a capital gain of 18.31% for the last 12 months, Norman Park, 4170 has performed for property investments than its average annual 6.13% property growth over the last 5 years.
Across a shorter period, Norman Park, 4170 has seen a median price increase of 8.62% over the last quarter.
Norman Park, 4170 is offering QLD ‘s 134th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this QLD.
At number 800 in a list of fastest selling suburbs, Norman Park is just in the bottom half of suburbs in Australia with an average of days on market 81.13 for properties listed there.
Advertised rents are around the $440 mark per week – giving a return of 3.63% based on the median price in Suburb
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.