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Norman Park

POSTAL CODE: QLD, 4170
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NORMAN PARK, 4170 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in QLD have risen as a whole, pulling NORMAN PARK, 4170 values up and netting property investors a capital gain of 14.67% for the past year.

Investors saw the median home price rise to $1,720,000.

Profits due to an upward trend in home prices in the suburb averaged 3.66% per annum over a 3-year period.

NORMAN PARK now ranks at the 116th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in NORMAN PARK are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $775 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In NORMAN PARK, homes and units usually stay on listing for an average of 52.1 days.

In 2016, 112 properties were sold in NORMAN PARK during the past year, making it the 941st most active market in QLD based on total real estate transactions.

Surburb overview

Norman Park, postcode 4170, is an inner suburb located approximately 6.3 kilometres east of Brisbane's central business district (CBD).

According to the 2021 census, Norman Park had a population of 6,842 residents. The suburb predominantly comprises separate houses, reflecting a traditional residential character. The average household size is approximately 2.6 people, with a median weekly income of $2,879.

Public transportation in Norman Park is well-developed, offering residents multiple commuting options. The Norman Park railway station, centrally within the suburb, provides regular services on the Cleveland line, connecting to the Brisbane CBD and surrounding areas. Additionally, several bus routes traverse the suburb, facilitating convenient travel within Brisbane. Major roads such as Wynnum Road enhance motorists' accessibility.

Essential establishments in Norman Park include educational institutions like Norman Park State School, a government primary school providing education from Prep to Year 6. In 2017, the school enrolled 457 students, supported by 36 teachers and 16 non-teaching staff. While no secondary schools are within Norman Park, nearby Coorparoo Secondary College serves the community's secondary education needs.

Residents can enjoy several parks and green spaces for recreational activities. The suburb has 14 parks covering nearly 13.8% of its area, providing ample outdoor activities and community events opportunities. The Norman Park Bowls Club is a well-loved local landmark and is claimed to be Brisbane's number-one barefoot bowls club. Additionally, the proximity to the Brisbane River offers scenic walking and cycling paths along the riverbank.

Regarding property, the median house price in Norman Park is approximately $1,500,000, with an annual capital growth of 3.45%. There were 95 house sales in the past 12 months, with properties spending an average of 29 days on the market. Rental yields for houses are currently around 2.95%, with a median weekly rent of $768. The suburb features a mix of housing types, including traditional Queenslander-style homes, post-war cottages, and modern residences, catering to diverse preferences and budgets.

Norman Park offers urban convenience and suburban tranquillity, making it an attractive option for residents and investors.

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