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.
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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