Property value increases in Woolloongabba have tracked just higher than the QLD average of 2.47% over the last 12 months.
Comparing Woolloongabba,4102 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Woolloongabba should be aiming for at least -4.98% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 2.67 sales per month, which equates to 32 per year.
With the median price for a house in Woolloongabba being $812000 and the advertised rent reaching $462.5 the gross rental yield for property investors calculates out to be 2.96%
Over the last year, property investments in Woolloongabba, 4102 have given investors a capital gain of -4.15%. This compares badly with the 0.74% for QLD as a whole.
A 2.45% growth in median value for property investors in Woolloongabba,4102 puts this suburb at number 248th in terms of best performing suburbs in QLD
Woolloongabba4102 is located in QLD which offers an average discount of -5.78% to property investors. Woolloongabba itself is showing figures that indicate -6.97% is the average achievable by property buyers investing in the suburb.
Residents and property investors in Woolloongabba have been waiting around 100.52 days to sell a property.
Situated 1.79km from the CBD, Woolloongabba is one of Brisbane localities in the postcode 4102.
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Woolloongabba’s only around 3km south of the Brisbane CBD, and it’s this inner-city location, combined with the area’s regeneration, that makes it worth keeping an eye on.
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Woolloongabba’s only around 3km south of the Brisbane CBD, and it’s this inner-city location, combined with the area’s regeneration, that makes it worth keeping an eye on.
The area has hit a slow patch in terms of capital growth, says PRDnationwide analyst Josh Brown, but he pegs it as a suburb that’s well worth going into now to pick up a unit – as the market conditions dictate that buyers can bargain hard on the price and hold for long-term growth.
“A large portion of this suburb was also declared an Urban Development Area in April 2010, which will transform the region and provide strong capital growth for investors who are willing to hold the property for a number of years,” he says.
In the meantime, the average unit yield is holding up well and Brown expects this figure to rise as the city’s rental market tightens. Census data indicates that 50% of the suburb’s occupants are renters, and SQM Research predicts that this number will increase to 56% over the next five years.
Hot Property Specialists’ Liz Wilcox notes that, as Woolloongabba’s becoming a higher density urban precinct, there’s a lot of new unit stock coming on to the market and it’s these newer properties that investors should be targeting.
“The old boxes don’t get such good rental returns, as there are a lot of young professional tenants in that area and they’re looking for more modern properties,” she says.
Woolloongabba has a couple of train stations within walking distance (Buranda and Dutton Park), while the Pacific Motorway takes bus users and motorists to the heart of the city. Amenities are plentiful and of course the world famous Gabba cricket ground can be found a couple of kilometres north of central Woolloongabba towards Kangaroo Point.
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