New Farm

sydney

Situated only 2 kilometres from the Brisbane Central Business District and located on the Brisbane River, lively New Farm has outstanding transport access to the city.A suburb with a previously troubled reputation, New Farm has long since gentrified through the 1990s to become an attractive position of choice.

The suburb contains some outstanding Queenslander houses as well as attractive apartments in boutique style blocks.

Covering approximately 3 square kilometres, New Farm has two parks covering around a tenth of the suburb’s total area.

Between 2006 and 2011 the population of New Farm increased from 11,244 to 11,337 showing a broadly stable population in the area during that time.

The challenge for Brisbane in the coming decade may relate to an oversupply of apartments and buyers of property must be cognisant of this risk.

New Farm is a suburb popular with young professionals being located so close to the city and a result the suburb primarily comprises childless couples.

Couples are likely to be paying between $1800 and $2400 on mortgage rates in New Farm.

The ownership rate in New Farm in 2006 showed 41.1 percent of homes to be owner-occupied as compared with 40.5% in 2011.

Currently the median sales price of houses in the area is $1,352,500.

There are many apartment blocks in the suburb of New Farm, with the median price sitting in the mid $400,000s range.