Woolloongabba, 4102 ranked 336th 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
A 38.36% growth in median value for property investors in Woolloongabba,4102 puts this suburb at number 132th in terms of best performing suburbs in QLD
LACK OF BUYER INTEREST may well be the reason that Woolloongabba is offering property investors an average of -7.44. This rate of discount on properties puts Suburb at number 448th in terms of most discounted suburbs in QLD
Residents and property investors in Woolloongabba have been waiting around 65.75 days to sell a property.
Using the current median advertised rental of $490 and the average annual increase in value of a median property of 3.70%, investors should hope to achieve an overall return of 3.12%
Property value increases in Woolloongabba have tracked lower than the QLD average of -0.62% over the last 12 months.
While Woolloongabba,4102 ranked number 280th in QLD for increase in median house value (annualised) increase, it is ranked 272th over the last 5 years.
At number 261th of QLD’s most discounted properties, Woolloongabba is in the TOP 20% of the state/territory when listing in order of most discounted to least.
With the median price for a house in Woolloongabba being $391750 and the advertised rent reaching $430 the gross rental yield for property investors calculates out to be 5.71%
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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.
Full summary
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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