New Farm, 4005 ranked 74th 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
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in New Farm has increased when compared to the 5 year average annual rate.
At number 130th of QLD’s most discounted properties, New Farm is in the bottom 20% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $742.5 weekly from the median priced house in this suburb.
Over the last year, property investments in New Farm, 4005 have given investors a capital gain of 8.66%. This compares favourably with the 4.80% for QLD as a whole.
Taking the average capital gain, or increase in median house value, New Farm,4005 has racked up an average of 8.66% over the period. This ranks it number 678th in the whole country for real estate investors looking at median house price increases.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in New Farm, 4005. Typically our figures indicate that -6.50% is being offered, which puts this QLD suburb at 106th most discounted overall in Australia.
Situated 1.76km from the CBD, New Farm is one of Brisbane (C) localities in the postcode 4005.
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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.”