Nundah Research Factsheet 1st Half of 2017
The property market in Nundah and its surrounding suburbs has witnessed solid performance over the past 12 months. In Q4 2016 it recorded median house price of $700,000 with an annual growth of 7.7% - almost double the annual growth in Brisbane City region; which makes it an attractive option for investors
The property market in Nundah and its surrounding suburbs has witnessed solid performance over the past 12 months. In Q4 2016 it recorded median house price of $700,000 with an annual growth of 7.7% - almost double the annual growth in Brisbane City region; which makes it an attractive option for investors. It recorded a lower median unit price of $427,500 compared to the Brisbane City region ($445,000), suggesting its unit market as a sought-after option for first home buyers.
Despite the fluctuations, overall median rents for three-bedroom houses and two-bedroom units have been on a rising trend since Q4 2011, recorded at $435 and $365 respectively. Rental yields sat at 3.2% for three-bedroom houses and 4.4% for two-bedroom units in Q4 2016, which is attractive for first time investors.
In the 1st half of 2017 the value of project development in Nundah and its surrounding suburbs is estimated at $14.5M with focus on residential projects (71.1%).
