Investment property in Balmoral has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -2.12%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Balmoral has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -4.83% to buyers in Balmoral at the moment, which is less than average for the rest of QLD.
Residents and property investors in Balmoral have been waiting around 61.58 days to sell a property.
A $600 per week rent on the median house gives suburb investors a gross yield of circa 3.37%, without taking into account capital value appreciation, which has been averaging out at 6.14%.
If you compare the increase in value of investment property in Balmoral, 4171 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 0.14%.
Balmoral,4171 has offered an average of 0.14% return per annum in house price rises to property investors over the last three years.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.14% offered to property buyers. Sellers in Balmoral itself are offering an average vendor discount of -6.03% to real estate investors.
Renters in Suburb are facing rents around $5160 per annum or $430 every week.
Located just 8.5 km east of Brisbane CBD, Balmoral is a small suburb that has attracted a growing number of residents who want to live near the city but still relatively close to nature.Full summary
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Located just 8.5 km east of Brisbane CBD, Balmoral is a small suburb that has attracted a growing number of residents who want to live near the city but still relatively close to nature.
The leafy suburb features several parks and just minutes away from the Colmslie Reserve and Hawthorne Park. It offers boat access to Brisbane CBD via the Colmslie Reserve. Residents enjoy a wide range of amenities including local cafes, cinema and stores. Regular bus services and the CityCat provide transport options for residents.
Median house values peaked around June 2008, then fell sharply over the year to June 2009, however it has since trended back up close to $800,000 mark in June 2010.
“Balmoral and New Farm are blue chips suburbs , they had extended period of solid growth and people had solid confidence in these markets,” says Brown. “But because it’s hard to improve on the location and the level of amenity and the median price is already so high it’s likely that growth will be more contained or conservative over the next decade or so.”