Suburb Profile Report for Woolloongabba QLD (4102)

Woolloongabba House: Median price $949,200, Annual capital growth 4.47%, Number of sales 50, Weekly median advertised rent $550

Woolloongabba Unit: Median price $442,000, Annual capital growth 0.82%, Number of sales 109, Weekly median advertised rent $405

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Source: Monthly data update for Mar 2022 as supplied by CoreLogic. Data is reported to the period ending Dec 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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Woolloongabba has had a pretty good year for property investment returns compared to the rest of QLD, giving investors a capital gain of 16.75% to date .

Across a shorter period, Woolloongabba, 4102 has seen a median price increase of 4.31% over the last quarter.

Property investors looking for a bargain in Woolloongabba should be aiming for at least 0.00% off the asking price, which is the average vendor discount being achieved at the moment.

Property investors should expect to get $550 weekly from the median priced house in this suburb.

If you compare the increase in value of investment property in Woolloongabba, 4102 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this QLD suburb was 7.80%.

Taking the average capital gain, or increase in median house value, Woolloongabba,4102 has racked up an average of 7.80% over the period. This ranks it number 973th in the whole country for real estate investors looking at median house price increases.

The most recent median price for Woolloongabba is $442000, with sellers offering an average of -4.26% off the asking price.

In the last year 109 properties changed hands in Woolloongabba, which puts it as the 97th most active market in QLD when comparing the number of sales per suburb.

Woolloongabba, 4102’s gross rental yield is 4.76%

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Woolloongabba’s only around 3km south of the Brisbane CBD, and it’s this inner-city location, combined with the area’s regeneration, that makes it worth keeping an eye on.

The area has hit a slow patch in terms of capital growth, says PRDnationwide analyst Josh Brown, but he pegs it as a suburb that’s well worth going into now to pick up a unit – as the market conditions dictate that buyers can bargain hard on the price and hold for long-term growth.

“A large portion of this suburb was also declared an Urban Development Area in April 2010, which will transform the region and provide strong capital growth for investors who are willing to hold the property for a number of years,” he says.

In the meantime, the average unit yield is holding up well and Brown expects this figure to rise as the city’s rental market tightens. Census data indicates that 50% of the suburb’s occupants are renters, and SQM Research predicts that this number will increase to 56% over the next five years.

Hot Property Specialists’ Liz Wilcox notes that, as Woolloongabba’s becoming a higher density urban precinct, there’s a lot of new unit stock coming on to the market and it’s these newer properties that investors should be targeting.

“The old boxes don’t get such good rental returns, as there are a lot of young professional tenants in that area and they’re looking for more modern properties,” she says.

Woolloongabba has a couple of train stations within walking distance (Buranda and Dutton Park), while the Pacific Motorway takes bus users and motorists to the heart of the city. Amenities are plentiful and of course the world famous Gabba cricket ground can be found a couple of kilometres north of central Woolloongabba towards Kangaroo Point.

Metrics i HOUSE UNIT
$949,200 $442,000
4.31% 1.38%
16.75% 7.80%
4.47% 0.82%
$550 $405
50 109
3.01% 4.76%
19 70.7368421052632

Source: Monthly data update for Mar 2022 as supplied by CoreLogic. Data is reported to the period ending Dec 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (U)
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Demographics
Total population 4788
Median household income ($/weekly) 1330
Median age of persons 31
Median housing loan repayment ($/monthly) 2200
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 754 15.7
    25-34 years 1219 25.5
    35-44 years 696 14.5
    45-54 years 539 11.3
    55-64 years 369 7.7
    Others 1212 25.3
    Age Group
    Census Count Percent(%)
    Not Married 2171 59.4
    Registered Married 992 27.1
    Defacto Relationship 491 13.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2628 60.6
    Indonesia 148 3.4
    Papua New Guinea 149 3.4
    United Kingdom 177 4.1
    Other 366 8.4
    Others 868 20.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 247 6.0
    Christianity 2052 50.1
    Hinduism 145 3.5
    Islam 113 2.8
    No Religion 1464 35.8
    Others 72 1.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 131 7.9
    $400-$599 133 8.1
    $1,500-$1,999 226 13.7
    $2,000-$2,499 140 8.5
    $2,500-$2,999 154 9.3
    Others 864 52.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1606 41.8
    Not in the labour force 1087 28.3
    Employed, worked part-time 821 21.4
    Unemployed, looking for work 192 5.0
    Employed, away from work 132 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 259 10.1
    Professionals 811 31.7
    Technicians & trades workers 254 9.9
    Community & personal service workers 272 10.6
    Clerical & administrative workers 346 13.5
    Others 615 24.1
    Occupation
    Census Count Percent(%)
    Infants/Primary 203 15.9
    Secondary 139 10.9
    Technical or Further Educational Institution 131 10.3
    University or other Tertiary Institutions 690 54.1
    Other type of educational institution 79 6.2
    Others 33 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2642 62.4
    Flat, unit or apartment 1408 33.3
    Semi-detached, row or terrace house, townhouse 171 4.0
    House or flat attached to a shop, office 12 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1060 60.3
    Being purchased 396 22.5
    Fully owned 291 16.5
    Other tenure type 12 0.7
    Tenure Type
Census 2011, ABS
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