Property investors who have had real estate in Wynnum, 4178 should be relatively unhappy with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.69%
Across a shorter period, Wynnum, 4178 has seen a median price increase of 3.26% over the last quarter.
Wynnum4178 is located in QLD which offers an average discount of -2.41% to property investors. Wynnum itself is showing figures that indicate -4.06% is the average achievable by property buyers investing in the suburb.
Wynnum is 363th on a list of best yielding suburbs for rents in QLD with a 4.33% return
With a capital gain of 2.87% for the last 12 months, Wynnum, 4178 has performed for property investments than its average annual 2.47% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Wynnum has increased when compared to the 5 year average annual rate.
Property buyers and investors in Wynnum 4178 should be seeing an average reduction in asking price of around -5.09% . This means that Wynnum is holding prices well when compared to other suburbs in QLD.
In the last year 141 properties changed hands in Wynnum, which puts it as the 72th most active market in QLD when comparing the number of sales per suburb.
Advertised rents are around the $400 mark per week – giving a return of 3.05% based on the median price in Suburb
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Wynnum lies in a coastal location about a half-hour’s drive east of the Brisbane CBD, has its own train station and a good selection of amenities. It made Your Investment Property's top 100 in 2011 thanks to its desirable location close to the recently rejuvenated waterfront, its good transport links into the city and the fact that it’s very much a buyer’s market.
“Agents there are pulling out their hair trying to sell property,” says Hot Property Specialists’ Liz Wilcox. “There are excellent opportunities there to buy below market value.”
She adds that, with the beautification of the waterfront from Wynnum to Manly that’s taken place over the last five years, an area that used to be dominated by mangroves can now count itself as a pleasantly liveable seaside suburb.
“It’s an area for a low-risk, long-hold strategy,” she says. “You can buy well now and hold for 10 years.”
She adds that the tenant base will mainly be comprised of families looking for less than inner-city rents in an area that still has a good train service to the CBD. With that in mind, she suggests going for three-bedroom, two-bathroom, family friendly houses.
“The avenues area, close to the golf course, is the most sought after,” she says. “There are a lot of properties here that have been renovated or split, and there’s the possibility to buy properties that are under two years old for the best depreciation rates.”
This area comprises of Boxgrove Avenue, Waterview Avenue, Moreton Avenue and Tamaree Avenue.