New Farm

Our Suburb

Due-Diligence

 
In this section, we take a closer look at the suburb of New Farm so you have a true understanding of the area and its surrounds. We digest the data that matters and take a look at the lifestyle elements that make New Farm the suburb it is.

The Numbers

 

Population

12,542

 

Increasing/Decreasing Population

The population has increased since 2011 by 10.7%

 

Vacancy Rates

3.8% of properties in the region

are unoccupied. We don't like the rate to be above 2%. Brisbane as a whole is 3.1%

 

The vacancy rates in the region

are steady

 

Example Purchasing Feasibility

Click here

 

Average Days on Market 

80 days on average to sell a home

 

Percentage of Sales by Auction

This is not an auction market

 

Ratio of Renters to Owner Occupied

58.7% are renters / 41.3% are owner-occupied. We prefer renters to be under 35%. More owner occupiers generally means properties are better looked after in the area and greater demand for tenants if for an investment

 

Supply vs. Demand

DSR (Demand Supply Ratio) score of 56. The DSR is a number out of 100 that gauges the demand relative to supply for a residential property market. We look for this to be always over 50. 60 is great, 70 is excellent

 

Housing Affordability

(Asset to Income)

27.75%. This is the percentage of the household income that goes towards paying a mortgage. We like this to be under 40%

 

Monthly Household Income

$7,808

 

For Sale Now (Online) 

Units - 71

 

Median Unit Price (All)

$575,000

 

Median Rent & Gross Rental Yield 

$425 / 3.8%

 

Last 12 Month Capital Growth

0.44% 

 

Renovation Potential

Yes. Opportunity to add value by cosmetic improvements 

 

Public Transport

Walk to CBD - 40 mins

Bus to CBD - 15 mins

Car to Airport - 20 mins

The Suburb

 

New Farm is located on the fringes of the Brisbane CBD, on the banks of the Brisbane River and approximately 15km from Brisbane airport.

 

New Farm is partly surrounded by the Brisbane River, with land access from the north-west through Fortitude Valley and from the north through Newstead.


New Farm is full of shops, cafes, wine bars, farmers markets and parks. For the city workers, it's a short stroll into town, with the area idyllic for the young professionals wanting to be close to the action.
 
New Farm is an eclectic mix of old and new, but it's the old that drives buyers and tenants to the area. Houses are dominated by Queenslanders and units are a mix of some new, however, an interesting mix of heritage art deco style blocks - providing plenty of character. 
 
The recommendation:
As we have previously stipulated, we are not advocates of buying apartments in the current Brisbane market. However, given your brief and desire to do this, our recommendation would be to purchase an existing (opposed to brand new) art deco apartment or similar, in a block of 12 units or less. We would prefer to be purchasing in a block without any gyms, pools and/or lifts. The apartment would be in a position to move a tenant straight in, however, we also see value in small, quick aesthetic improvements. Parking is preferable, however, not mandatory given the location and proximity to the city. The apartment would likely be 1 bedroom to meet your budget of $400,000.

What's Around

PROPERTY STYLES

LIFESTYLE

INFRASTRUCTURE

Cross River Rail:
By 2036, forecasts expect 90,000 people travelling to work each day in the morning peak hours, so the $5.4 billion project will deliver a 10.2 kilometre rail link from Dutton Park to Bowen Hills, with 5.9 kilometres of tunnel under the Brisbane River and CBD, connecting to both northern and southern rail networks in and out of the CBD.​

What's Social Media Is Saying

What's Social Media Is Saying

North Brisbane 

* Milk Chocolate price data used on this website is sourced and relies upon information supplied by a number of external sources (including governmental authorities). This data is supplied on the basis that while Milk Chocolate believes all the information provided will be correct at the time of writing, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by you, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information on this website through any cause whatsoever and limits any liability it may have to the amount paid to the external sources for the supply of such information.