Property investors who have had real estate in Wynnum, 4178 should be relatively pleased 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 15.67%
Over the longer term, Wynnum has seen property prices show investors a 16.76% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -4.33% to buyers in Wynnum at the moment, which is less than average for the rest of QLD.
In the last year 248 properties changed hands in Wynnum, which puts it as the 65th most active market in QLD when comparing the number of sales per suburb.
Advertised rents are around the $490 mark per week – giving a return of 3.41% based on the median price in Suburb
Property value increases in Wynnum have tracked close to the QLD average of 8.71% over the last 12 months.
While Wynnum,4178 ranked number 269th in QLD for increase in median house value (annualised) increase, it is ranked 107th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Wynnum is offering property investors an average of -4.64. This rate of discount on properties puts Suburb at number 154th in terms of most discounted suburbs in QLD
Renters in Suburb are facing rents around $21060 per annum or $405 every week.
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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.