Over the last year, property investments in Woolloongabba, 4102 have given investors a capital gain of 3.87%. This compares favourably with the 2.03% for QLD as a whole.
The five-year average increase in median property values for Woolloongabba,4102 has given property investors a potential capital gain of 32.52% across each of those five years.
The QLD suburb of Woolloongabba, 4102 is in the Brisbane (C) local government area.
Woolloongabba has had a quite poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -2.14% to date .
Taking the average capital gain, or increase in median house value, Woolloongabba,4102 has racked up an average of -2.14% over the period. This ranks it number 1490th in the whole country for real estate investors looking at median house price increases.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.17% offered to property buyers. Sellers in Woolloongabba itself are offering an average vendor discount of -4.58% to real estate investors.
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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.