Property investors who have had real estate in New Farm, 4005 should be relatively pleased with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 8.11%
Across a shorter period, New Farm, 4005 has seen a median price increase of -0.33% over the last quarter.
Often selling an investment property can take time, and in New Farm the average time real estate has been on the market is 111.5 days.
Advertised rents are around the $780 mark per week – giving a return of 2.70% based on the median price in Suburb
Over the last year, property investments in New Farm, 4005 have given investors a capital gain of 6.53%. This compares favourably with the -0.66% for QLD as a whole.
Comparing New Farm,4005 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in New Farm 4005 should be seeing an average reduction in asking price of around -6.60% . This means that New Farm is holding prices well when compared to other suburbs in QLD.
New Farm is 336th on a list of best yielding suburbs for rents in QLD with a 3.50% return
An inner suburb of Brisbane is currently seeing average annual growth of 13%. Blessed with excellent public transport and an abundance of restaurants and shops, it brims with investment potential. Read on to find out what suburb it is.Full summary
Information supplied by:
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.”