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New Farm's property market has shown a contrast between houses and units. The median house price is approximately $2.77 million, with a -6.63% change over the past year. Units, however, have a median price of about $833,166, showing a positive change of 7.17%. These trends indicate a preference for more affordable and low-maintenance living spaces, as seen in the unit market​​.

In the last year, New Farm recorded 49 house sales and 253 unit sales, with houses taking an average of 33 days on the market and units 24 days. This difference in market activity suggests a more robust demand for units, likely due to their affordability and appeal to a broader range of buyers, including young professionals and downsizers​​.

New Farm appeals predominantly to younger age groups, with the majority of its population being between 20 and 39 years old. This demographic is often associated with strong buyer demand in the property market, contributing to New Farm's appeal as a residential and investment destination​​.

The broader Brisbane area, including New Farm, is seeing sustained economic growth and development. With the upcoming 2032 Olympic Games, suburbs like New Farm are expected to benefit from increased investment and infrastructure developments. This growth is anticipated to boost the property market in these areas​​​​.

Rental market and economic factors

The rental market in New Farm is robust, especially for units. Despite a slight slowdown in the rate of rental price growth, unit rents have increased by 14% over the past year, outperforming houses in this regard. The low vacancy rates in Brisbane, including New Farm, indicate a tight rental market, making it an attractive option for investors​​​​.

New Farm is renowned for its elegant living, cultural richness, and extensive green spaces like the New Farm Park. The suburb combines a sophisticated urban lifestyle with a strong sense of community. Its blend of luxury apartments, heritage houses, and vibrant arts scene makes New Farm a highly sought-after location for discerning residents.

Looking ahead, New Farm and similar suburbs are expected to continue experiencing price growth, especially given their proximity to the CBD and desirable lifestyle amenities. The Brisbane property market, in general, is poised for sustained growth, with factors like interstate migration and economic development playing significant roles​​​​.

Surrounding New Farm are several prestigious suburbs, each with their distinct character. Areas like Teneriffe, Fortitude Valley, and Kangaroo Point offer a range of upscale living options, appealing to those seeking a lifestyle near New Farm's elegant and cultured environment.