If you compare the increase in value of investment property in New Farm, 4005 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this QLD suburb was 4.00%.
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.
LACK OF BUYER INTEREST may well be the reason that New Farm is offering property investors an average of -2.41. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in QLD
The QLD suburb of New Farm, 4005 is in the Brisbane (C) local government area.
New Farm, 4005 ranked 92th 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
New Farm,4005 was ranked 1210 in Australia by increase in median property value over the quarter.
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 0.00% is being offered, which puts this QLD suburb at 1023th most discounted overall in Australia.
Often selling an investment property can take time, and in New Farm the average time real estate has been on the market is 45.8333 days.
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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.”