Here’s an appreciating asset in more than just one way. New Farm’s continual price growth is due to its proximity to the CBD as well as its in-demand infrastructure. Combine that with an under-supplied rental market that creates the perfect environment to purchase an investment that your grandchildren will thank you for.
One of the apartments recently increased from $280pw to $400pw. That’s 40% growth! Over the remaining stock, 30% increases are expected within the next year. Taking the ROI from 3.1% currently, to a projected and very enviable 4% within the year. There’s nothing to be done (unless you want to) with a squeaky clean B&P report (which is available to our buyers).
New Farm house prices have risen 17.9% over the last twelve months, and it continues to be one of Brisbane’s fastest growing and most desirable suburbs, fuelled by demand from empty-nesters, executive couples and young families and consistent migration of families from New South Wales and Victoria. New Farm retains its reputation as the ‘must live here’ place to be in inner city Brisbane.
All apartments in the boutique complex are in excellent condition, all with a/c, and enjoy the security of a dedicated carport each at the rear of the property. The bus stop is footsteps away and the ferry to the CBD is a short stroll. They all boast the ease of gas cooktops, and most have 3.6m luxuriously high ceilings. One of the big tenant drawcards for this apartment complex is the close proximity to Merthyr Village, a brilliant hub with Coles, New Farm Deli, retail shops, skin and hair care, bottle shops and one of Brisbane’s finest butchers – Peter Augustus.
Apartment 1: A studio apartment that comes with security screening, a fridge, laundry facilities downstairs
Apartment 2: A renovated one-bedroom apartment with a feature sliding wall, polished floors, a fridge and washing machine are included
Apartment 3: Recently refurbished, a self-contained one bedder with a north-facing aspect. This one boasts a new fridge and washing machine and a kitchen island bench on wheels
Apartment 4: A studio apartment with its own fridge and washing machine, a large bathroom, security screening and pretty window boxes
Apartment 5: This one’s a super-cute loft apartment and bonuses include a kitchenette with fridge and washing machine, as well as a built-in robe (and is a tenant favourite)
Apartment 6: Is the block’s largest apartment with two bedrooms, a newly renovated kitchen, and a washing machine. With its north-easterly aspect, and its location in the sweet spot between Merthyr Village and the Brisbane River it’s an apartment that always attracts interest when it hits the market
INSIDER’S SECRET . . .
+ The current vacancy rate for New Farm is 0.7%