Woolloongabba is in the bottom 30% in QLD when comparing median price capital growth over the last year. Woolloongabba gave property investors a disappointing capital gain figure when compared to the rest of the state, with -3.75%.
The five-year average increase in median property values for Woolloongabba,4102 has given property investors a potential capital gain of 14.77% across each of those five years.
Woolloongabba, 4102 is offering QLD ‘s 488th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this QLD.
Renters in Suburb are facing rents around $24960 per annum or $480 every week.
Investment property in Woolloongabba has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.85%
Woolloongabba,4102 was ranked 879 in Australia by increase in median property value over the quarter.
Property buyers and investors in Woolloongabba 4102 should be seeing an average reduction in asking price of around -7.75% . This means that Woolloongabba is holding prices well when compared to other suburbs in QLD.
Advertised rents are around the $440 mark per week – giving a return of 5.51% based on the median price in Suburb
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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.