With a capital gain of -2.93% for the last 12 months, New Farm, 4005 has performed for property investments than its average annual 6.53% property growth over the last 5 years.
Across a shorter period, New Farm, 4005 has seen a median price increase of -4.84% over the last quarter.
Sellers are offering property buyers an average discount of -8.02% to buyers in New Farm at the moment, which is less than average for the rest of QLD.
Residents and property investors in New Farm have been waiting around 69.3913 days to sell a property.
New Farm is 773th on a list of best yielding suburbs for rents in QLD with a 2.82% return
If you compare the increase in value of investment property in New Farm, 4005 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this QLD suburb was -12.11%.
Taking the average capital gain, or increase in median house value, New Farm,4005 has racked up an average of -12.11% over the period. This ranks it number 1096th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that New Farm is offering property investors an average of -6.45. This rate of discount on properties puts Suburb at number 159th in terms of most discounted suburbs in QLD
Residents and property investors in New Farm have been waiting around 64.4351 days to sell a property.
New Farm is 317th on a list of best yielding suburbs for rents in QLD with a 4.02% return
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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.”