Suburb Profile Report for Kelvin Grove QLD (4059)

Kelvin Grove House: Median price $782,000, Annual capital growth 3.15%, Number of sales 45, Weekly median advertised rent $500

Kelvin Grove Unit: Median price $415,000, Annual capital growth -0.58%, Number of sales 78, Weekly median advertised rent $410

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Giving property investors a an unimpressive capital gain of -5.78% for the last year, Kelvin Grove, 4059 is the 2764th highest performer in Australia in this respect.

Kelvin Grove,4059 was ranked 3210 in Australia by increase in median property value over the quarter.

Kelvin Grove4059 is located in QLD which offers an average discount of -7.01% to property investors. Kelvin Grove itself is showing figures that indicate -3.67% is the average achievable by property buyers investing in the suburb.

Advertised rents are around the $500 mark per week – giving a return of 3.32% based on the median price in Suburb

Property investors who have had real estate in Kelvin Grove, 4059 should be ok with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -0.72%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kelvin Grove has fallen somewhat when compared to the 5 year average annual rate.

Property investors looking for a bargain in Kelvin Grove should be aiming for at least -5.51% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 78 properties changed hands in Kelvin Grove, which puts it as the 71th most active market in QLD when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $21320 per annum or $410 every week.

YIP MAG Information supplied by:

YIP MAG
June 2016

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Opportunities to buy seem to have become harder to find in Kelvin Grove over the past 12 months, according to Real Estate Investar.

Figures for the suburb in Brisbane’s northwest show that stock levels have fallen by 34.3% during that period.

Likely helping the suburb’s popularity with buyers is the fact that it’s home to the Queensland University of Technology Kelvin Grove Campus, making it a prime location for university students looking for accommodation.

Stock levels of both houses and units have fallen over the past year, although the conditions in these two markets have been different.

The median house price currently sits at $750,000, having grown 11% in the past year.

Units, on the other hand, are more affordable, at a median price of $475,000, but have only seen growth of 1% in the past 12 months.

The suburb is within walking distance of the CBD, and as such isn’t on any train lines. However, it is well served by local buses, and is within easy reach of the inner city bypass leading west out of the city, and linking to the M1 leading north and south. Streets are typically wide and tree-lined, and there are a number of parks in the area – as well as a golf course to the east of the suburb.

As you’d expect, it’s a student-heavy suburb: the ABS reports that 20% of the suburb’s population are in higher or technical education, and around half of the properties are rented. However, it’s also popular with young city and medical professionals, which make up 17% of the suburb's workers

Metrics i HOUSE UNIT
$782,000 $415,000
-2.86% 3.75%
-5.78% -0.72%
3.15% -0.58%
$500 $410
45 78
3.32% 5.14%
44.6333333333333 81.4754098360656

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (U)
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Demographics
Total population 6017
Median household income ($/weekly) 1360
Median age of persons 27
Median housing loan repayment ($/monthly) 2123
Average household size 2.3
  • Census Count Percent(%)
    15-19 years 555 9.2
    20-24 years 1232 20.5
    25-34 years 1524 25.3
    35-44 years 788 13.1
    45-54 years 464 7.7
    Others 1455 24.2
    Age Group
    Census Count Percent(%)
    Not Married 2440 56.6
    Registered Married 1344 31.2
    Defacto Relationship 529 12.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 3661 64.3
    Croatia 216 3.8
    Indonesia 143 2.5
    United Kingdom 222 3.9
    Other 609 10.7
    Others 839 14.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 178 3.3
    Christianity 2613 48.0
    Hinduism 158 2.9
    Islam 443 8.1
    No Religion 1981 36.4
    Others 68 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 177 8.7
    $1,250-$1,499 177 8.7
    $1,500-$1,999 234 11.5
    $2,000-$2,499 158 7.8
    $2,500-$2,999 219 10.8
    Others 1071 52.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1883 37.7
    Not in the labour force 1573 31.5
    Employed, worked part-time 1098 22.0
    Unemployed, looking for work 276 5.5
    Employed, away from work 166 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 343 10.9
    Professionals 1152 36.6
    Community & personal service workers 374 11.9
    Clerical & administrative workers 427 13.6
    Sales 319 10.1
    Others 531 16.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 294 12.6
    Secondary 167 7.1
    Technical or Further Educational Institution 126 5.4
    University or other Tertiary Institutions 1626 69.5
    Other type of educational institution 73 3.1
    Others 52 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2451 47.5
    Flat, unit or apartment 2179 42.2
    Semi-detached, row or terrace house, townhouse 524 10.2
    House or flat attached to a shop, office 7 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1351 61.4
    Being purchased 530 24.1
    Fully owned 312 14.2
    Other tenure type 9 0.4
    Tenure Type
Census 2011, ABS
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