Property management in Woolloongabba
Your suburb profile by Running Property
Situated just 2 kilometres south-east of the Brisbane CBD, Woolloongabba (4102) is a popular inner city suburb that’s home to more than 4,700 residents.
Even though it’s extremely close to Brisbane city, Woolloongabba property prices tend to be more affordable than adjoining suburbs such as Kangaroo Point, Dutton Park, and Highgate Hill. This is perhaps due to a lack of river frontage, as well as the close proximity of the Pacific Motorway.
However, Woolloongabba is not without its own unique attractions. As well as its many heritage listed buildings, the suburb is home to the famous Brisbane Cricket Ground (more commonly known as The Gabba), the home ground of the Brisbane Lions in winter, and the Brisbane Heat, Brisbane Bulls, and Australian Cricket Team in summer.
Thanks to its handy location near the city, it has traditionally been a very popular suburb, particularly for property investors. In 2016 data from realestate.com.au shows that the median Woolloongabba house price was $780K, with the median unit price being $433K. Over the five years to 2015, Woolloongabba’s median sales price for houses increased 16.6% – a compound annual growth rate of 3.1%.
As an investment property owner, the good news is that rental returns are quite high, with the median rent for Woolloongabba houses being $490 per week, and the median rent for units $400 per week. Rental demand for houses is high, and rental demand for units is average.
For expert advice on attracting the best quality tenants for your investment property in the Gabba, talk to the friendly team at Running Property. Our property managers have the local knowledge that can make all the difference to your rental return.
If you’d like a rental appraisal for your Woolloongabba investment property, fill out the contact form here or call Running Property on 07 3392 1544 today.