QLD has seen average median house prices change by 2.25% which means that Woolloongabba, 4102 has done well for property investors by showing a capital gain of -8.42% over the last year
A 4.53% growth in median value for property investors in Woolloongabba,4102 puts this suburb at number 715th in terms of best performing suburbs in QLD
Sellers are offering property buyers an average discount of -4.87% to buyers in Woolloongabba at the moment, which is less than average for the rest of QLD.
A $495 per week rent on the median house gives suburb investors a gross yield of circa 3.43%, without taking into account capital value appreciation, which has been averaging out at 1.86%.
Property value increases in Woolloongabba have tracked close to the QLD average of -0.54% over the last 12 months.
While Woolloongabba,4102 ranked number 245th in QLD for increase in median house value (annualised) increase, it is ranked 272th over the last 5 years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Woolloongabba, 4102. Typically our figures indicate that -6.76% is being offered, which puts this QLD suburb at 57th most discounted overall in Australia.
Residents and property investors in Woolloongabba have been waiting around 98.1935 days to sell a property.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
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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.