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:
Parramatta Park, QLD – Slow but steady in Cairns
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.