Woolloongabba, 4102 ranked 499th in QLD when comparing growth in median property values or capital gain over the last 12 months. Woolloongabba is one of 2415 in our list for QLD
While Woolloongabba,4102 ranked number 807th in QLD for increase in median house value (annualised) increase, it is ranked 258th over the last 5 years.
The most recent median price for Woolloongabba is $779750, with sellers offering an average of -5.35% off the asking price.
With the median price for a house in Woolloongabba being $779750 and the advertised rent reaching $475 the gross rental yield for property investors calculates out to be 3.17%
With a capital gain of 0.31% for the last 12 months, Woolloongabba, 4102 has performed for property investments than its average annual 0.50% property growth over the last 5 years.
The five-year average increase in median property values for Woolloongabba,4102 has given property investors a potential capital gain of -5.31% across each of those five years.
The most recent median price for Woolloongabba is $410000, with sellers offering an average of -4.87% off the asking price.
Woolloongabba is 157th on a list of best yielding suburbs for rents in QLD with a 5.58% 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.
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.