At number 1710th in the list of Australian suburbs ordered by increase in median house value over the last year, East Brisbane, 4169 is in the top half with a property value increase of -0.06% recorded in median house prices.
If we look at median property appreciation over just the last three months, East Brisbane has given property investors a paper return of 0.00%. This puts Suburb as 345 on a list of fastest fasting appreciating suburbs in QLD
The most recent median price for East Brisbane is $860000, with sellers offering an average of -7.13% off the asking price.
East Brisbane is 725th on a list of best yielding suburbs for rents in QLD with a 3.36% return
Property value increases in East Brisbane have tracked just higher than the QLD average of -0.57% over the last 12 months.
East Brisbane,4169 was ranked 1024 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in East Brisbane should be aiming for at least -7.08% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 4.92 sales per month, which equates to 59 per year.
East Brisbane, 4169’s gross rental yield is 4.95%
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An inner city suburb of Brisbane, located just 4 km east of the CBD, East Brisbane is a popular suburbs among young professionals and people downsizing. Nestled between Kangarro Point and Norman Park, the suburb is a relatively dense area with a number of apartments and townhouses built to cater for the growing demand from homebuyers and renters.
Although East Brisbane does not have a train station, it has regular bus service to and from the CBD. It also has good road links via the Southeast Freeway.
Residents enjoy full retail amenities of the CBD including those along Old Cleveland Road and Queen Street Mall. The suburb’s proximity to Mowbray Park means residents can enjoy some good picnic spots along the Brisbane River and waterfront parkland in Heath Park also provides waterfront parkland, located on the banks of Norman Creek.
The suburb has recorded solid growth over the last 10 years. Unlike the other Brisbane suburbs which are still struggling to recover from their 2008 peak, East Brisbane has continued to grow to another peak of $700,750 in June 2010.
“East Brisbane has a lot of large-scale developments going on including residential developments commercial developments and a lot of infrastructure spending such as the Cross River Rail Project - an $8 billion dollar development which is essentially going to take rail within the inner city underground. At the moment at peak time the rail network is at capacity and these should take some burden off that. It’s going to increase the level of accessibility to East Brisbane. In the near term, it’s going to cause some headache during construction but over the longer term it’s going to see significant growth for the region,” says PRDnationwide's Josh Brown.