With a capital gain of -8.03% for the last 12 months, Woolloongabba, 4102 has performed for property investments than its average annual 4.08% property growth over the last 5 years.
Woolloongabba,4102 has offered an average of -8.03% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Woolloongabba should be aiming for at least -5.25% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1337 in a list of fastest selling suburbs, Woolloongabba is in the TOP 40% of suburbs in Australia with an average of days on market 63.36 for properties listed there.
Situated 2.95km from the CBD, Woolloongabba is one of Brisbane localities in the postcode 4102.
Property value increases in Woolloongabba have tracked just higher than the QLD average of 0.20% over the last 12 months.
Across a shorter period, Woolloongabba, 4102 has seen a median price increase of 4.07% over the last quarter.
Property buyers and investors in Woolloongabba 4102 should be seeing an average reduction in asking price of around -6.90% . This means that Woolloongabba is holding prices well when compared to other suburbs in QLD.
In the last year 135 properties changed hands in Woolloongabba, which puts it as the 65th most active market in QLD when comparing the number of sales per suburb.
Woolloongabba is 227th on a list of best yielding suburbs for rents in QLD with a 4.98% return
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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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