New Farm 4005 Property Market

New Farm Qld Property Market

New Farm is a northern riverside suburb of Brisbane CBD in Queensland. The suburb is only two kilometres east of the city and is partly surrounded by the Brisbane River, with land access through Fortitude Valley and Newstead.

The suburb derives its name from the fact that the peninsula was once used as a farming area in the early years of Brisbane’s history.

This suburb is known for its lush, leafy streetscapes, its modern twist on traditional family homes and its large community parks. New Farm is currently one of the most in-demand suburbs in Brisbane’s inner-north area.

The suburb’s close proximity to the nearby suburbs of Teneriffe and Newstead, its picturesque water views and its community-centred lifestyle makes New Farm the perfect location for both families and singletons alike.

Lifestyle

This suburb really promotes an outdoorsy lifestyle through its scenic views and many parks. One of these parks, New Farm Park, is considered to be Brisbane’s most beloved outdoor asset. This stretch of land hosts plenty of activities throughout the year like farmers’ markets, barbeques, cultural events, performances and sporting events.

However, if you enjoy being inside on a sunny day, you can always visit Brisbane Powerhouse, an iconic arts destination. Originally a 1920s power station, Brisbane Powerhouse was rebuilt into a multi-purpose precinct for the arts and hosts some of Brisbane’s most unforgettable exhibitions and cultural events.

If you want to travel to the city, you can hop on the CityCat ferry, which makes regular stops near the CBD and neighbouring suburbs. The riverside walking trail which links New Farm to the city’s Eagle Street precinct is often dotted with cycling enthusiasts and gives locals plenty of opportunities to enjoy the suburb’s fresh air.

In a nutshell, New Farm is relatively close to the city centre but still offers a relaxed riverside lifestyle. The suburb has a vibrant selection of cafés and restaurants and boasts some of Brisbane’s most stunning renovated homes.

Geolocation Factors

Travelling in and out of town is made easy with Brisbane Airport, which is the primary international airport serving Brisbane and South East Queensland. It takes only 12 minutes to get to Brisbane Airport from New Farm.

The size of New Farm is approximately 2.5 square kilometres. It has 3 parks covering nearly 7.8% of the suburb’s total area.

The suburb has plenty of schools available to choose from, with New Farm State School being one of the most popular choices. However, if you would like to invest in private schooling, you can choose between Lourdes Hill College, Music Industry College, All Hallows’ School and St James College.

New Farm Property Statistics

The following data (taken from Property Value) gives an overview of the median sale price for New Farm properties.

Houses

Median sale price in the area: $1.6m

Median price change (1yr): 7.54%

Median rent: $800pw

Median gross yield: 2.5%

Units

Median sale price in the area: $590k

Median price change (1yr): 2.61%

Median rent: $415pw

Median gross yield: 3.7%

Demographics of the Area

The population of New Farm in 2011 was 11,330 people. By 2016 the population was 12,536 showing a population growth of 10.6% in the area during that time.

The predominant age group in New Farm is 20-29 years with households primarily consisting of childless couples. These households are likely to be paying over $4000 per month on mortgage repayments.

In 2011, 40.5% of the homes in New Farm were owner-occupied, which decreased to 39.7% in 2016 with 57.2% of New Farm properties being rented.

Buyers Advocate New Farm

If New Farm seems like the perfect location for you to settle down in and you quite like the idea of being so close to the city, then you will be pleased to know that New Farm properties are ideal to invest in.

As an experienced New Farm buyers agent who knows a lot about the area, Savvy Fox can help you to close the deal on prime New Farm real estate.

Don’t stress about the details, and leave all the hard work to Savvy Fox! Call us today, and take the first step in finding your dream home.

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