Giving property investors a an average capital gain of 3.27% for the last year, Woolloongabba, 4102 is the 2246th highest performer in Australia in this respect.
Over the longer term, Woolloongabba has seen property prices show investors a 5.71% return over the last 3 years. This is worse than over the last 12 months
Woolloongabba4102 is located in QLD which offers an average discount of -5.18% to property investors. Woolloongabba itself is showing figures that indicate -4.80% is the average achievable by property buyers investing in the suburb.
Woolloongabba is 694th on a list of best yielding suburbs for rents in QLD with a 3.23% return
Giving property investors a an unimpressive capital gain of 1.22% for the last year, Woolloongabba, 4102 is the 900th highest performer in Australia in this respect.
Comparing Woolloongabba,4102 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.85% offered to property buyers. Sellers in Woolloongabba itself are offering an average vendor discount of -5.89% to real estate investors.
Advertised rents are around the $405 mark per week – giving a return of 5.07% 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.