QLD has seen average median house prices change by -0.33% which means that Bowen Hills, 4006 has not done well for property investors by showing a capital gain of 8.36% over the last year
Bowen Hills,4006 was ranked 531 in Australia by increase in median property value over the quarter.
Vendor discounting in Bowen Hills is giving property investors an average Vendor Discount of around -6.51%. This puts suburb at number 81th in QLD when ranking the most discounted suburbs.
Situated 2.29km from the CBD, Bowen Hills is one of Brisbane (C) localities in the postcode 4006.
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The inner-city suburbs of Brisbane have had a well-documented struggle as a result of the number of new apartments that have popped up in recent years, and Bowen Hills is no exception.
In this suburb just 3km north of the Brisbane CBD, tenants are unlikely to struggle to find rental accommodation – its vacancy rate is currently 6.65%, according to Real Estate Investar.
There has been some improvement in the rental market though, as the vacancy rate has fallen from the 8.19% of 12 months ago.
Landlords who do manage to find a tenant are at least seeing decent rental returns, with yields currently sitting at 5%.
Investors will be hoping yields don’t fall any time soon, with capital growth conditions being relatively poor at the moment.
The median unit price currently sits at $426,000 and has only grown 3% in the last three years. The last 12 months alone have seen prices fall by 2%.