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New Farm

Real estate profile

Location

2km east of Brisbane CBD.

Features

Excellent public transport, New Farm Park, restaurant and cafe precinct, the Brisbane River

Median Price

REIQ research shows that the median house price in the suburb for the calendar year 2006 was $760,000.

Median Weekly Rent

The median weekly rent paid for a 3-bedroom house in this area in the June 2007 quarter was $440. The median weekly rent paid for a 2-bedroom unit in this area for the same period was $360.

Profile

New Farm has undergone a substantial transformation over the last 10 years, with its wide variety of housing types ranging from historic workers' cottages and colonials through to art deco blocks of flats and modern contemporary homes and apartments, reflecting the equally eclectic nature of its residents.

Much of this transformation has been driven by the urban renewal process, particularly in James Street and the old Powerhouse and CSR Refinery sites. These changes have helped to cement New Farm as part of the cosmopolitan heart of Brisbane.

There are a wide variety of bars, restaurants and cafes, located along Brunswick Street, the James Street precinct and Merthyr Road, giving residents an almost endless array of options.

The suburb is also home to the Brisbane Powerhouse complex, historic New Farm Park, and is almost entirely surrounded by boardwalks and walking paths along the edge of the Brisbane River, giving people the opportunity to see Brisbane at its best.

With strong demand for inner city living New Farm is expected to maintain its popularity with renters and buyers looking for proximity to the city and an excellent 'café lifestyle'.

According to the 2006 Census, there were 11,245 people living in the area with a median age of 37. The median individual income was $690 per week. Of all occupied private dwellings 35% were either fully owned or being purchased; 46.9% were being rented.

Source: REIQ

REIQ Copyright 2007. Enquiries about the reproduction of part or all of the information should be directed to the Marketplace Strategy division of the The Real Estate Institute of Qld Ph 3249 7300.

This information has been carefully compiled by the REIQ and is not intended to be treated as a warranty or promise as to the correctness of the information.

More New Farm information

History

Learn about the Aboriginal history, urban development, notable residents and landmarks of the area.

Pocket Neighbourhood Guide

Your neighbourhood at a glance. Discover the secrets of the local area... as well as what makes it special.