Kelvin Grove has had a pretty average year for property investment returns compared to the rest of QLD, giving investors a capital gain of 1.36% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Kelvin Grove comes in at number 609th in QLD.
A $475 per week rent on the median house gives suburb investors a gross yield of circa 3.01%, without taking into account capital value appreciation, which has been averaging out at 3.03%.
Kelvin Grove has had a pretty good year for property investment returns compared to the rest of QLD, giving investors a capital gain of 3.13% to date .
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.
The most recent median price for Kelvin Grove is $412500, with sellers offering an average of -4.74% off the asking price.
In the last year 86 properties changed hands in Kelvin Grove, which puts it as the 67th most active market in QLD when comparing the number of sales per suburb.
The QLD suburb of Kelvin Grove, 4059 is in the Brisbane (C) local government area.
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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