How is Brisbane's "little Italy" faring in the current market?
In the recent property market dip, house values in Brisbane's leafy suburb of New Farm have seen a slight downturn, but remained relatively stable.
Units, however, have been experiencing a sharp drop in value since since the middle of last year.
Between 2009 and the present day, the median value of houses in the suburb has increased from $875,000 to $1622,500 - A jump of $747500.
Houses reached their peak value in mid-2016, with a median of $1.825 million.
Meanwhile, in that same timeframe the median price of units has seen a less dramatic, but still substantial, increase from $440,000 to $555,000 - A jump of $115,000.
Units reached their peak value in mid-2018, with a median value of of 620,000.
The suburb is often referred to as Brisbane's "Little Italy", as many immigrants from Italian descent first settled in the suburb.
It is also known for its numerous heritage listed houses, including the famous "Amity" at
Part of the 2008 movie Fool's Gold, starring Kate Hudson, was shot at New Farm Park.
To learn all you need to know about New Farm, from median asking rents to household composition, click here.
As a landlord it is important to check the asking rent trend regularly to ensure you are getting the most value out of your investment.
