In this Suburb Profile, we’ll show you why New Farm is one of Brisbane’s most popular inner-city suburbs.
New Farm (Post Code 4005)
Firstly, it’s the near city location. New Farm is only 2km from the Brisbane CBD (to the east). It’s a suburb well known for trendy cafes, restaurants and bars. Top brand chic boutiques live here, too. But if none of that is your scene, there are also beautiful parks along the Brisbane River. New Farm has a vibrant atmosphere and offers a lifestyle that appeals to both renters and owner occupiers. The suburb has a mix of heritage homes, modern apartments, and spacious townhouses. So, the area offers a range of housing options to suit different lifestyles, budgets and family/household types.
Position One Property is a well established property management company in the area, and so we have deep understanding of the local rental market in New Farm. We are committed to providing personalized, professional, and reliable property management services. So whether you’re landlords or tenants in New Farm – or nearby suburbs – Position One Property offer the services (and heart) you need.
Here are some of the things you’ll be wanting to know about New Farm.
The Turrbal and Jagera people were the original inhabitants of the land now commonly referred to as New Farm. Early European settlers came here in the early 1800s and started farming – and the location was ‘officially’ named New Farm in 1911.
As development continued along the Brisbane River and the population of the area grew, so did the suburb of New Farm. Many local iconic buildings (like Wynberg and Amity House) and other landmarks were established along the way.
One of the most memorable spots in the suburb is the sprawling New Farm Park, which was officially opened in 1914. The Park is one of Brisbane’s most popular public spaces and people travel from all over to spend a day here. There is also a thriving commercial district in the area around Brunswick Street. Shops, cafes, and entertainment venues are found in abundance here!
Being ‘inner suburbs’, New Farm attracts a diverse range of residents. These include young professionals and families as well as retirees and artists. With a long history (for Australia!) and vibrant character, this suburb is a special gem in the heart of Queensland’s largest city.
New Farm has great options for public transport, with several methods available for getting around. Because it’s a short distance from the Brisbane CBD, it is easy to reach by bus, train, or ferry, depending upon where you’re travelling from.
Buses are a popular option because there are several routes connecting New Farm to other parts of the City. The 199 and 196 buses run along Brunswick Street, providing good access to the Bris CBD and surrounding suburbs.
Trains are also a great option, as the Fortitude Valley train station is located just a short distance from New Farm. From here, it’s easy to access other parts of Brisbane and outer suburbs, including the Gold Coast and Sunshine Coast.
Finally, ferries! The “City Cats” provide a unique and scenic way to travel around the City. The New Farm Park ferry terminal offers regular services to the CBD, South Bank, and other stops along the Brisbane River.
Amenities – Facilities – Services
New Farm has a range of amenities that cater for the needs of the local community. There are several grocery stores, including Coles and IGA, as well as a number of specialty food stores and fresh produce markets.
For medical needs, there are several medical centres and pharmacies, as well as a dental clinic and a physiotherapy practice.
Other services in the area include post offices, banks, libraries, and community centres.
There is also the aforementioned wide range of dining and entertainment options, including cafes, bars, and restaurants. Furthermore, there are the cultural institutions like the Brisbane Powerhouse and the New Farm Cinemas.
New Farm and its surrounding suburbs have a multitude of options for schooling. There are both primary and secondary schools and even tertiary education institutions. Here’s a list of the main options:
– New Farm State School: A public primary school in central New Farm. Prep to Year 6.
– Holy Spirit School: A Catholic primary school in neighbouring Newstead. Prep to Year 6.
– Brisbane Grammar School: An independent boys’ school in Spring Hill. Years 5 to 12.
– Brisbane State High School: A public secondary school in neighbouring South Brisbane. Year 7 to 12.
– All Hallows’ School: A Catholic girls’ school in neighbouring Fortitude Valley. Year 5 to 12.
– Anglican Church Grammar School (“Churchie”): An independent boys’ school located in East Brisbane. Years 5 to 12.
– University of Queensland: Located in St Lucia.
– Queensland University of Technology: Located in the heart of the City.
– Griffith University: Several Campuses in South East Queensland.
With such a variety of eductional institutions in the suburb and immediate viscinity, New Farm lacks for nothing for owners of investment property and tenants.
New Farm Property
New Farm is a highly sought-after suburb for owner occupiers as well as renters. It has a mix of old style and newer properties which cater well for the vibrant community of residents. Here’s some of the key real estate trends in the area:
Ownership vs. Rented:
Approximately 59% of properties in New Farm are rented, while 29% are owner-occupied. This reflects the suburb’s popularity among renters, particularly young professionals and students.
Median Property Price:
According to recent data from Domain, the median property price in New Farm is around $1.1 million. This is higher than the median price in Brisbane as a whole, which currently stands at around $590,000. The high median price in New Farm reflects the area’s desirability and the demand for housing in the suburb. It also reflects the close proximity to the CBD and multiple commute options.
Median Rental Price:
The median rent price in New Farm is around $550 per week for a two-bedroom apartment, according to recent data from realestate.com.au. This is higher than the median rental price for Brissy as a whole, which is currently around $450 per week. The high rental prices in New Farm reflect the demand for rental property in the area and the suburb’s proximity to the city center.
The vacancy rate in New Farm varies depending on the time of year and other factors, but it is generally lower than the average for Brisbane as a whole. According to recent data from SQM Research, the vacancy rate in New Farm was around 2.5% in March 2023, which is lower than the vacancy rate for Brisbane as a whole (3.6% in February 2023).
New Farm Properties:
New Farm has a mix of old and new property. There are many beautiful older homes as well as apartment buildings. New Farm has seen significant growth and development in recent years, with many new apartments and townhouses being built to meet the demand for housing in the area. However, there are also many older properties here, particularly in the heritage-listed areas around New Farm Park.
Property Management New Farm
As a leading property management company in South East Queensland, Position One Property has been providing expert services to property owners for over 20 years. Our team knows the SEQ’s real estate and rental markets inside out. We have extensive experience in managing property of all types.
Whether you’re a new landlord looking for help managing your investment, or an experienced investor seeking to optimize your returns, our property managers can provide you with the expert support you need.
Contact us today to learn more about our services and how we can help you maximize your rent income. We can also help you minimize the stress and hassle that life as a landlord can bring – if you don’t have Position One Property on your A-Team!