Property value increases in Harristown have tracked lower than the QLD average of 1.17% over the last 12 months.
Over the longer term, Harristown has seen property prices show investors a -2.90% return over the last 3 years. This is worse than over the last 12 months
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.78% offered to property buyers. Sellers in Harristown itself are offering an average vendor discount of -6.30% to real estate investors.
Situated 108.86km from the CBD, Harristown is one of Toowoomba (R) localities in the postcode 4350.
Harristown is in the bottom 20% in QLD when comparing median price capital growth over the last year. Harristown gave property investors a dismal capital gain figure when compared to the rest of the state, with -8.56%.
Harristown,4350 was ranked 1489 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -4.78% to buyers in Harristown at the moment, which is less than average for the rest of QLD.
Renters in Suburb are facing rents around $13000 per annum or $250 every week.
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Affordability draws investors
Median unit price: $305,000
Three-year growth: 39.0%
Rental yield: 4.7%
The suburb of Harristown is an accessible suburb just a stone’s throw from the Toowoomba CBD. Its affordability is making it quite a star among buyers.
Despite a price hike of 5.6% in the 12 months to August 2018, Harristown’s unit market reports a median value of just $305,000. The suburb has recorded an average annual growth rate of 6.6% over the last few years, with growth peaking in the past three years at 39%. Yields are reasonably high at an average of 4.7%
Harristown is the site of quite a few schools, including Harristown State School, Harristown State High School and two campuses of Concordia Lutheran College. There is a strong community feel in the suburb, which endears it to potential residents. Properties here are low priced, making them ideal for homebuyers on a budget.