Over the last year, property investments in New Farm, 4005 have given investors a capital gain of 3.27%. This compares favourably with the 1.05% for QLD as a whole.
New Farm,4005 has offered an average of 3.27% return per annum in house price rises to property investors over the last three years.
A $800 per week rent on the median house gives suburb investors a gross yield of circa 2.64%, without taking into account capital value appreciation, which has been averaging out at 6.76%.
Property value increases in New Farm have tracked lower than the QLD average of -0.03% over the last 12 months.
A -5.05% growth in median value for property investors in New Farm,4005 puts this suburb at number 281th in terms of best performing suburbs in QLD
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 -6.31% is being offered, which puts this QLD suburb at 521th most discounted overall in Australia.
Residents and property investors in New Farm have been waiting around 60.5077 days to sell a property.
Situated 1.75km 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.”