Suburb Profile Report for New Farm QLD (4005)

New Farm House: Median price $1,622,500, Annual capital growth 6.09%, Number of sales 62, Weekly median advertised rent $800

New Farm Unit: Median price $580,000, Annual capital growth 2.63%, Number of sales 202, Weekly median advertised rent $410

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

At number 2545th in the list of Australian suburbs ordered by increase in median house value over the last year, New Farm, 4005 is in the BOTTOM 50% with a property value increase of -1.94% recorded in median house prices.

While New Farm,4005 ranked number 248th in QLD for increase in median house value (annualised) increase, it is ranked 181th over the last 5 years.

QLD has seen average median house prices change by 0.61% which means that New Farm, 4005 has done well for property investors by showing a capital gain of -2.52% over the last year

Across a shorter period, New Farm, 4005 has seen a median price increase of -2.77% over the last quarter.

Our latest figures would indicate that property sellers in New Farm are currently offering property investors an average price cut of -6.25% below the asking price at the moment.

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New Farm is an inner city suburb of Brisbane with excellent public transport option and an abundance of restaurants and shops. Formerly dominated by Italian migrants, the suburb has since undergone gentrification and has become one of the most desirable suburbs in Brisbane.

Josh Brown, research analyst with PRDnationwide says the suburb is particularly attractive to younger residents because they are well-positioned and are close to the Brisbane CBD.

“There’s been a lot of developments in these areas and they’ve become trendy suburbs with lot of cafes and bistros and they’re close to shopping district and features that appeal to young professionals,” he says.

Median house price stayed stagnant up until around 2002 when it jumped to more than double in 2005. Price peaked at $1,140,000 around June 2008. It fell sharply in 2009 but it has bounced back since to its current level.

Looking ahead, Brown says future growth in house price might be slower than the rate it has recorded over the past 30 years because growth has already been substantial growth and there’s already significant amenity in the area.

“Unless there’s a large scale development going into the area that doesn’t impede the existing residence that can affect value, then growth would be lower than the previous decades.”

Metrics i HOUSE UNIT
$1,622,500 $580,000
1.16% -2.77%
-1.94% -2.52%
6.09% 2.63%
$800 $410
62 202
2.74% 3.68%
58.89189 58.044117

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (U)
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Demographics
Total population 11330
Median household income ($/weekly) 1620
Median age of persons 36
Median housing loan repayment ($/monthly) 2200
Average household size 1.9
  • Census Count Percent(%)
    20-24 years 1052 9.3
    25-34 years 3073 27.1
    35-44 years 1870 16.5
    45-54 years 1331 11.7
    55-64 years 1257 11.1
    Others 2747 24.2
    Age Group
    Census Count Percent(%)
    Not Married 4711 54.2
    Registered Married 2599 29.9
    Defacto Relationship 1379 15.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 7191 69.5
    Japan 214 2.1
    Papua New Guinea 438 4.2
    United Kingdom 621 6.0
    Other 591 5.7
    Others 1297 12.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 323 3.3
    Christianity 5702 57.8
    Hinduism 162 1.6
    Other Religious Groups 81 0.8
    No Religion 3506 35.5
    Others 95 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 385 8.1
    $1,250-$1,499 357 7.5
    $1,500-$1,999 573 12.1
    $2,500-$2,999 729 15.4
    $4,000 or more 359 7.6
    Others 2338 49.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4944 52.0
    Not in the labour force 2339 24.6
    Employed, worked part-time 1641 17.2
    Unemployed, looking for work 310 3.3
    Employed, away from work 281 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 1085 15.8
    Professionals 2681 39.1
    Technicians & trades workers 531 7.7
    Community & personal service workers 585 8.5
    Clerical & administrative workers 958 14.0
    Others 1024 14.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 330 18.4
    Secondary 199 11.1
    Technical or Further Educational Institution 169 9.4
    University or other Tertiary Institutions 906 50.6
    Other type of educational institution 110 6.1
    Others 76 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 6042 61.7
    Separate house 3013 30.7
    Semi-detached, row or terrace house, townhouse 728 7.4
    House or flat attached to a shop, office 13 0.1
    Caravan, cabin, houseboat 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2937 58.1
    Fully owned 1067 21.1
    Being purchased 1039 20.5
    Other tenure type 13 0.3
    Tenure Type
Census 2011, ABS
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