Harristown has had a pretty average year for property investment returns compared to the rest of QLD, giving investors a capital gain of 9.68% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Harristown comes in at number 605th in QLD.
Our latest figures would indicate that property sellers in Harristown are currently offering property investors an average price cut of -4.00% below the asking price at the moment.
At number 1609 in a list of fastest selling suburbs, Harristown is just in the top half of suburbs in Australia with an average of days on market 51.2899 for properties listed there.
Harristown is 238th on a list of best yielding suburbs for rents in QLD with a 5.20% return
QLD has seen average median house prices change by 8.71% which means that Harristown, 4350 has done well for property investors by showing a capital gain of 16.36% over the last year
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Harristown has fallen somewhat when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -4.31% to buyers in Harristown at the moment, which is less than average for the rest of QLD.
In the last year 42 properties changed hands in Harristown, which puts it as the 207th most active market in QLD when comparing the number of sales per suburb.
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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.