New Farm is in the TOP 30% in QLD when comparing median price capital growth over the last year. New Farm gave property investors a good capital gain figure when compared to the rest of the state, with 6.94%.
Comparing New Farm,4005 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The QLD suburb of New Farm, 4005 is in the Brisbane (C) local government area.
New Farm, 4005 ranked 100th in QLD when comparing growth in median property values or capital gain over the last 12 months. New Farm is one of 2415 in our list for QLD
Across a shorter period, New Farm, 4005 has seen a median price increase of 0.84% over the last quarter.
At number 52th of QLD’s most discounted properties, New Farm is in the bottom 30% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 16.17 sales per month, which equates to 194 per year.
A $400 per week rent on the median house gives suburb investors a gross yield of circa 3.47%, without taking into account capital value appreciation, which has been averaging out at 2.36%.
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
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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.”