Virginia has had a pretty average year for property investment returns compared to the rest of QLD, giving investors a capital gain of 1.63% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Virginia comes in at number 166th in QLD.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.78% offered to property buyers. Sellers in Virginia itself are offering an average vendor discount of -3.72% to real estate investors.
A $445 per week rent on the median house gives suburb investors a gross yield of circa 3.72%, without taking into account capital value appreciation, which has been averaging out at 3.76%.
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Brisbane suburb is full up on occupants
Median house price: $527,000
Vacancy rate: 0.93%
Three-year growth: 21.15%
As a suburb of Brisbane, Virginia is a well-located residential area attracting residents year after year.
While its house prices have been declining recently, the average vacancy rate indicates that this suburb remains quite in demand, plummeting from 2.13% in 2016 to 0.93% this year. Furthermore, average sales discounts are just over 5%, while yields are reasonable at over 4%.
Due to its proximity to the CBD, Virginia is less a commercial hub than a residential suburb dominated by Queenslander-style houses. Schools are located in neighbouring suburbs such as Banyo, while Boondall to the north is home to the Brisbane Entertainment Centre.
Commuters can travel to Brisbane and Caboolture by train through the Virginia railway station. Bus services are provided as well. Brisbane can also be reached by car passing through several routes, including the M3 motorway.