Are you looking to purchase realestate in New Farm, Brisbane? As a New Farm Buyers Agent we’d love to assist. Check out our suburb profile below, and let us know if you would like help with your New Farm property purchase!
New Farm is one of Brisbane’s most sought after suburbs. It is an affluent, riverside suburb 2km east of the CBD. New Farm is famous for its leafy green parks, trendy cafe and restaurant culture,and its lively theatre and cultural precincts. New Farm is bordered by the suburbs of Fortitude Valley to the north and Teneriffe to the east.
More than 11,000 people call New Farm home. 39.7% of households in New Farm are owner occupied. New Farm has a younger demographic – predominantly in their 20s and 30s
New Farm’s main shopping and cafe precinct is located around James St, Brunswick St and Merthyr Rd.
New Farm is within walking distance of the city. The nearest train station is on Brunswick St in Fortitude Valley. Several convenient bus and ferry services also connect New Farm with the CBD.
New Farm has two primary schools (Holy Spirit Primary School, and New Farm State School) and is the Kelvin Grove State College catchment.
New Farm Park is a beautiful green space on the banks of the Brisbane River. It is a popular spot for weekend picnics. There is a scenic river walk and bikeway running into the city.
Most residents commute to the city or Fortitude Valley for work.
Riverfront properties, and those located on the New Farm/Teneriffe Hill are the most desirable, and most expensive areas of New Farm.
Traffic noise can be an issue for properties close to Brunswick St. New Farm was significantly affected by flooding in 2011 and buyers are cautioned to check the Brisbane City Council Flood Maps for more information.
Detached housing accounts for only 20% of properties in New Farm. This includes an eclectic mix of colonial and Queenslander type homes, and contemporary masterpieces. The median block size is 468m2.
There are many small to medium sized unit complexes, and upscale warehouse conversions.
The median house price in New Farm is $2,735,000 which is well above Brisbane’s median.
The median house price in New Farm would typically buy a 4-bedroom, 2-bathroom house on a 607 m2 block.
For example: 31 Sargent Street New Farm QLD 4005 – sold for $2,700,000 in 13 Jul 2024 (click to view listing and see images below).
The median unit price in New Farm is: $790,000.
This amount would typically buy a 1-bedroom, 1-bathroom, 1 garage unit.
For example: 134/79 Moray Street New Farm QLD 4005– sold for $805,000 in July 2024 (click to view listing and see images below)
Over the last 12 months house prices have increased by 13.8% per annum. In the last 5 years the median house price has increased by an impressive 90.4%.
Units in New Farm have also performed well increasing by 28,.7% over the last 12months and by 64.5% over the last 5 years.
Average Days on Market: Houses 72 days. Units: 40 days.
On average houses are selling 10% above their list price. Units typically sell 6% above their list price.
New Farm’s auction clearance rates are 22% for houses, and 67% for units.
The average rental yield for houses is 2%, compared to 3.6% for units.
There is a shortage of houses and apartments currently listed for sale (0.45% and 0.63% respectively).
The rental vacancy rate for houses is 2.84%, compared to units 1.33%.
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