At number 878th in the list of Australian suburbs ordered by increase in median house value over the last year, Woolloongabba, 4102 is in the top 30% with a property value increase of 21.26% recorded in median house prices.
If we look at median property appreciation over just the last three months, Woolloongabba has given property investors a paper return of 4.58%. This puts Suburb as 387 on a list of fastest fasting appreciating suburbs in QLD
On average over the past year, suburb has had 4.67 sales per month, which equates to 56 per year.
A $547.5 per week rent on the median house gives suburb investors a gross yield of circa 3.12%, without taking into account capital value appreciation, which has been averaging out at 4.14%.
Investment property in Woolloongabba has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.34%
Woolloongabba,4102 has offered an average of 6.34% return per annum in house price rises to property investors over the last three 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 -4.72% is being offered, which puts this QLD suburb at 345th most discounted overall in Australia.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 0.28%, investors should hope to achieve an overall return of 4.77%
Information supplied by:
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.