When it comes to Real Estate, regardless if you are looking to buy or to rent, one thing cannot be denied – New Farm remains one of the most promising of Brisbane’s suburbs to have your eyes on. From its laidback lifestyle to the investment opportunity, we have gathered some of the main reasons why you should choose the fabulous New Farm. Very green and friendly with plenty of cafes, entertainment and – of course! – the beautiful park on its premises, New Farm has always attracted the ones who enjoy mild bustle with no need to sacrifice a peaceful lifestyle. With so much to offer within a single kilometre radius, it’s no surprise the Real Estate market in the 4005 area has remained one of the busiest in Brisbane despite all tribulations from the past couple of years.
So if you have ever wondered why the New Farm real estate market for investment properties is so popular, here’s our list with the main reasons.
#1. Suburban lifestyle, in the heart of Brisbane
We have all heard it once or twice: you can’t have it all. Wrong! Throughout the years, New Farm managed to blend the best of both worlds and offer a beautiful balance between the quietness and peace of living in the suburbs with the variety of the CBD. With plenty of restaurants, cafes and shops around you barely need to leave the area to find what you are looking for. The same variety goes for entertainment – to those who appreciate a calm afternoon, the New Farm Park; to those who appreciate a healthy lifestyle, a cycle or run through the Riverwalk to Teneriffe; to those who love the theatre, the Brisbane Powerhouse. On top of that, New Farm has to be one of the most hospitable places to be! Full of friendly residents, dog-walkers, picnic-goers etc; the overall energy of the place reflects its people: lively, fun and very welcoming.
#2. Property market in constant high demand
Numbers do not lie: compared to the rest of Queensland, New Farm has 11% more interest from buyers and renters. This means the market is in constant high demand, pushing properties to get leased for higher prices and faster than other suburbs.
Investment properties hitting the market tend to take around 7 to 14 days to get let. With the recent market dement, New Farm properties have been going after (or even before) their first Open Home. As an example, over the course of 12 months one of our properties jumped from $580 per week to recently being leased for $750 per week – that is a 30% increase in a single year. This property entered the market on a Wednesday, had its first Open Home on Thursday and a lease sent on the same week’s Friday. Which leads us to…
#3. Increasing trend on average rent prices
Brisbane’s 4005 (New Farm & Teneriffe) are some of the richest and most expensive suburbs in the city. To the real estate investor that means a larger investment but in the long term, a higher return than other places. Being an established suburb, that also means less risk. Because the market is in constant high demand the competition to get a great rental in the area is fierce: this has pushed the rent prices to steadily increase over time. Other than the hot market, new developments in New Farm can indirectly add value to the surrounding properties as well. New boutique buildings such as the Maison on Moray Street, and the recently completed Botanic on Sydney Street are attracting buyers (and renters) to the area.
And many other reasons…
- Several of the best cafes and restaurants Brisbane has to offer are in New Farm
- New Farm has easy access to both the CBD and airport, plus several public transport lines to the rest of the city
- Plenty of manicured green spaces throughout the neighbourhood
- Dog parks, sports courts, picnic spots, and a variety of outdoor options
- Beautiful views of the Brisbane River and city from many locations
With so much to consider, one thing cannot be denied: New Farm is the perfect choice for Queensland or interstate investors looking to expand their reach in a secure and highly profitable location. And no investment is complete without experienced professionals to look after it – at Odyssey Property Concierge we pride ourselves on our immaculate 5-star ratings, with a team highly accomplished on the New Farm estate market. Contact us for a rental appraisal or to know more about how you can make the most of your investment property.
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(Data presented collected from suburb profile on realestate.com.au)
