Suburb Profile Report for Parramatta Park QLD (4870)

Parramatta Park House: Median price $423,000, Annual capital growth 0.38%, Number of sales 36, Weekly median advertised rent $440

Parramatta Park Unit: Median price $215,000, Annual capital growth -1.87%, Number of sales 43, Weekly median advertised rent $340

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Parramatta Park has had a very poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -7.08% to date .

A 8.46% growth in median value for property investors in Parramatta Park,4870 puts this suburb at number 229th in terms of best performing suburbs in QLD

Property investors looking for a bargain in Parramatta Park should be aiming for at least -6.70% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 36 properties changed hands in Parramatta Park, which puts it as the 542th most active market in QLD when comparing the number of sales per suburb.

Situated 1389.99km from the CBD, Parramatta Park is one of Cairns (R) localities in the postcode 4870.

Parramatta Park is in the bottom 30% in QLD when comparing median price capital growth over the last year. Parramatta Park gave property investors a disappointing capital gain figure when compared to the rest of the state, with -7.13%.

Parramatta Park,4870 was ranked 1417 in Australia by increase in median property value over the quarter.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.15% offered to property buyers. Sellers in Parramatta Park itself are offering an average vendor discount of -6.96% to real estate investors.

At number 1096 in a list of fastest selling suburbs, Parramatta Park is in the bottom 20% of suburbs in Australia with an average of days on market 100.233 for properties listed there.

Renters in Suburb are facing rents around $17680 per annum or $340 every week.

Information supplied by:




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Parramatta Park, QLD – Slow but steady in Cairns

Postcode: 4870

Median house price: $455,000

Three-year growth: 1.1%

Rental yield: 4.8%

The suburb of Parramatta Park, which sits directly west of the Cairns CBD, is home to the Cairns Showgrounds and several schools. Houses here are reasonably priced at under $500,000, although growth is slow.

Educational institutions in the suburb include Parramatta State School, St Joseph’s Primary School and St Augustine’s College. Barlow Park stadium also serves as a facility for various sports. The industrial hub in the suburb offers opportunities for employment as well. Families favour this suburb for its peaceful atmosphere while being located near a city centre with access to amenities like a local library and a historical museum operated by the Cairns Historical Society.

Metrics i HOUSE UNIT
$423,000 $215,000
2.42% -3.37%
-7.08% -7.13%
0.38% -1.87%
$440 $340
36 43
5.41% 8.22%
70.28 100.233333333333

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (U)
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Demographics
Total population 3226
Median household income ($/weekly) 879
Median age of persons 33
Median housing loan repayment ($/monthly) 1634
Average household size 1.9
  • Census Count Percent(%)
    20-24 years 331 10.3
    25-34 years 770 23.9
    35-44 years 496 15.4
    45-54 years 377 11.7
    55-64 years 329 10.2
    Others 923 28.6
    Age Group
    Census Count Percent(%)
    Not Married 1251 64.4
    Registered Married 424 21.8
    Defacto Relationship 267 13.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 1612 64.6
    South Korea 122 4.9
    Papua New Guinea 91 3.6
    United Kingdom 107 4.3
    Other 172 6.9
    Others 390 15.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 106 4.5
    Christianity 1361 57.9
    Hinduism 37 1.6
    Other Religious Groups 45 1.9
    No Religion 776 33.0
    Others 24 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 115 11.1
    $400-$599 114 11.0
    $600-$799 116 11.2
    $800-$999 120 11.5
    $1,000-$1,249 107 10.3
    Others 468 45.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 862 38.7
    Not in the labour force 712 32.0
    Employed, worked part-time 411 18.5
    Unemployed, looking for work 168 7.6
    Employed, away from work 72 3.2
    Person Characteristics
  • Census Count Percent(%)
    Professionals 281 20.9
    Technicians & trades workers 196 14.6
    Community & personal service workers 257 19.1
    Sales 131 9.7
    Labourers 152 11.3
    Others 329 24.4
    Occupation
    Census Count Percent(%)
    Infants/Primary 84 16.2
    Secondary 197 37.9
    Technical or Further Educational Institution 92 17.7
    University or other Tertiary Institutions 85 16.3
    Other type of educational institution 45 8.7
    Others 17 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 1082 48.1
    Separate house 996 44.3
    Semi-detached, row or terrace house, townhouse 138 6.1
    House or flat attached to a shop, office 28 1.2
    Caravan, cabin, houseboat 6 0.3
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 738 67.3
    Being purchased 200 18.2
    Fully owned 148 13.5
    Other tenure type 10 0.9
    Tenure Type
Census 2011, ABS
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