Suburb Profile - New Farm

New Farm is a highly sought-after suburb located in Brisbane, Queensland. The suburb is situated just 2 kilometers east of the central business district of Brisbane and is nestled alongside the Brisbane River. New Farm has long been a favorite among home buyers and renters alike due to its convenient location, vibrant culture, and a wide range of lifestyle amenities.

Property in New Farm is highly desirable, with a mix of historic and contemporary homes, apartments, and townhouses. The suburb offers an eclectic range of property types, from grand historic homes and chic art deco apartments to modern high-rise units and trendy townhouses. One of the most popular property types in New Farm is the Queenslander home, a distinctive style of housing that is elevated on stilts and typically features a wide wrap-around veranda, high ceilings, and ornate detailing.

According to recent data from realestate.com.au, the median property price in New Farm is around $1.5 million. This is significantly higher than the median price for Brisbane as a whole, which currently sits at around $730,000. Despite the higher price point, demand for property in New Farm remains strong, and the suburb has seen steady price growth over the past few years.

In 2020, New Farm experienced a median price growth of 2.2%, with houses increasing by 1.9% and apartments by 2.7%. Over the past five years, the suburb has seen a median price growth of 23.9%, with houses increasing by 24.3% and apartments by 22.6%. These figures suggest that New Farm has been a solid investment for property buyers, with the suburb outperforming the wider Brisbane market.

One of the main reasons for New Farm's strong price growth is its location. The suburb is situated in a prime position alongside the Brisbane River, offering stunning views of the water and the city skyline. It's also within walking distance of some of Brisbane's most popular lifestyle precincts, including Fortitude Valley and Teneriffe. The suburb is also well-connected to public transport, with easy access to buses, trains, and ferries.

Another factor contributing to New Farm's popularity is its vibrant culture and community. The suburb is home to a range of trendy cafes, boutique shops, and gourmet restaurants, making it a popular destination for foodies and culture enthusiasts. It's also home to several parks and green spaces, including New Farm Park, a sprawling riverfront park that hosts regular community events and festivals.

In conclusion, New Farm is a highly desirable suburb located in Brisbane, Queensland. The area's eclectic mix of historic and contemporary property types, stunning location, and vibrant culture make it a popular destination for home buyers and renters alike. While property prices in New Farm are higher than the wider Brisbane market, the suburb has seen steady price growth over the past few years, making it a solid investment for property buyers looking for a prime location and a vibrant lifestyle.

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