Newstead Buyers Agent’s Guide
Are you looking to purchase a home or investment property in Newstead? As a Newstead Buyers’ Agent we’d be happy to help and have compiled the following suburb profile for your information. Best wishes with your Newstead property purchase!
Newstead is an inner-city, riverside suburb located 3km northeast of the Brisbane CBD. The suburb is best known for its lively café and restaurant precinct, and historic riverside apartment complexes. Newstead is bordered by the suburbs of Teneriffe, Bowen Hills, and Fortitude Valley.
The population of Newstead in 2016 was around 2,193 and continues to grow. 49% of households in Newstead are owner occupied and consistent predominantly of professional couples without children.
Shops, restaurants and entertainment
Newstead’s main shopping and café precinct is located on Skyring Terrace, adjacent to the heritage-listed Gasworks site.
Several convenient bus services connect Newstead with the Brisbane CBD via Ann St. Ferry services are also available from nearby Teneriffe.
The area is home to a number of great private and public schools including All Hallows’ School, Brisbane Grammar School, St Margaret’s Anglican Girls School, Brisbane Girls Grammar, New Farm State School, and Ascot State School.
Parks and Green spaces
Newstead Park, located in the north of the suburb and home to historic Newstead House, is a popular spot for weekend picnics.
Bicycle paths and walkways follow the Brisbane River and are used by many local residents for exercise and commuting to the city and Hamilton.
Most residents commute to the Brisbane CBD or Fortitude Valley for work.
Most and least desirable areas
Riverside properties are the most desirable (and most expensive) parts of Newstead.
Traffic noise can be an issue for properties close to major thoroughfares including Breakfast Creek Rd, and Ann St. Buyers should check the Brisbane City Council Flood Maps as many areas are susceptible to flooding,
Housing type and typical block size
The vast majority (>99%) of properties in Newstead are apartments.
What can my money buy in Newstead?
The median house price in Newstead is $1,400,000 which is well above Brisbane’s median.
The median unit price in Newstead is: $780,000.
This amount would typically buy a 2 bedroom, 2bathroom unit in a newer, high-rise complex. For example: 1206/30 Festival Place Newsteadsold for $795,000 in February 2020 (click to view listing and see images below).
How has the Newstead property market been performing?
In the last 5 years the median price of units has increased by 14.8%. On average, over the last 10 years, unit prices have increased by 1.8% per annum.
Supply and demand characteristics for Newstead
- Average Days on Market: Units: 115 days.
- On average units typically sell 7% below their list price.
- The average rental yield for units is 4.27%.
- There is a balanced supply of units currently listed for sale (2.51%).
- The rental vacancy rate for units is 3.54%.
**Statistics are accurate for June 2019
Thinking about buying a property in Newstead? Our Newstead Buyers’ Agent is more than happy to have a chat. Please contact us.
For information about other Brisbane suburbs click here.