Property value increases in Corinda have tracked just lower than the QLD average of 12.16% over the last 12 months.
Across a shorter period, Corinda, 4075 has seen a median price increase of 8.71% over the last quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.90% offered to property buyers. Sellers in Corinda itself are offering an average vendor discount of -5.08% to real estate investors.
A $480 per week rent on the median house gives suburb investors a gross yield of circa 2.76%, without taking into account capital value appreciation, which has been averaging out at 4.48%.
Corinda, 4075 ranked 302th in QLD when comparing growth in median property values or capital gain over the last 12 months. Corinda is one of 2415 in our list for QLD
If we look at median property appreciation over just the last three months, Corinda has given property investors a paper return of 0.00%. This puts Suburb as 269 on a list of fastest fasting appreciating suburbs in QLD
At number 103th of QLD’s most discounted properties, Corinda is in the middle of the state/territory when listing in order of most discounted to least.
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Brisbane suburb Corinda is situated around 9km southwest of the city’s CBD, on the south bank of the Brisbane river. It’s a largely residential suburb, albeit with the typical amenities you would expect to find in an inner-city fringe suburb. It’s also within easy reach of the large Indoorophilly shopping centre and facilities in neighbouring Graceville and Sherwood. It’s also bordered by a number of parks, and several golf courses lie to the east.
Transport-wise, the suburb is very well-served: there are two direct rail links to the city – one travelling via the south bank of the river, the other via the University of Queensland – and the connecting rail link from Darra has been recently upgraded. While the river side of the suburb has historically been most popular with buyers and renters – not least due to the higher ground and views of Mount Coot-tha – there has been a spate of interest from renovators and redevelopers further east, with a number of townhouse complexes having been developed along Oxley Road.
Residents are typically affluent, young professionals, with incomes well above the state average. SQM Research believes there is a healthy rental market, with a vacancy rate of just 1.5%. Indeed, the strong yields are probably a result of the suburb’s affordability when compared to Graceville and Sherwood – even taking into account its strong capital growth over the last year, and boding well for the future.
Ideally, buy as close to the river as possible to take advantage of the views of Mount Coot-tha and command higher rental: should this not be possible, however, look for properties with reno or development potential in the roads near Oxley Street.