Property investors who have had real estate in Parkwood, 4214 should be relatively unhappy with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.92%
Parkwood,4214 was ranked 3017 in Australia by increase in median property value over the quarter.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.60% offered to property buyers. Sellers in Parkwood itself are offering an average vendor discount of -6.24% to real estate investors.
The QLD suburb of Parkwood, 4214 is in the Gold Coast (C) local government area.
With a capital gain of 7.17% for the last 12 months, Parkwood, 4214 has performed for property investments than its average annual 2.43% property growth over the last 5 years.
The five-year average increase in median property values for Parkwood,4214 has given property investors a potential capital gain of 23.25% across each of those five years.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 2.43%, investors should hope to achieve an overall return of 5.63%
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Low prices boost demand
Median unit price: $357,500
Three-year growth: 19.2%
Rental yield: 5.9%
A peaceful suburb that’s great for families, Parkwood’s appeal to residents continues to grow – demand is such that units spend just a little over a month on the market before being snatched up.
It is highly affordable, with units going for a median price of just over $350,000. While the suburb’s uptick has not been particularly significant or long-lasting thus far, it has maintained positive growth since 2015 – in the three months to June 2018, Parkwood saw a 2.6% increase in values. It’s also a good spot for investors to get into for cash flow – they reap very high returns of 5.9% off weekly rent rates of $405.
Parkwood is close to several schools, such as Arundel State School and a campus of Griffith University. The Gold Coast University Hospital is nearby, as are many shopping centres.