New FarmSuburb Profile

New Farm

The New Farm boundaries are marked by Harcourt Street in the west, Chester Street, Gibbon Street, Beeston Street, Kingsholme Street, Macquarie Street and Merthyr Road in the north, the Brisbane River in the east and south.

The name New Farm reflected the original use of the area – a new cultivated farming district (c1830’s). The area was also a working site of convicts around the 1870’s.

Market Data

Median House Price New Farm
Median House Price
$1,600,000
Median Mortgage Repayments
$2,167 / month
Home Ownership
39.7%
Type of Dwelling: House / Townhouse
24%
Median Unit Price
$575,000
Median Unit Rent
$400 / week
Rented Properties
57.2%
Type of Dwelling: Apartment / Unit
75.2%

House and Unit price based on sales from 1 Jan 2017 – 22 Jan 2018. Data supplied by RP Data Pty Ltd trading as CoreLogic. All other data supplied by ABS 2016 Census.

Demographics

Total Population
12,542
Average people per household
Average People / Household
1.9
Median Age
Median Age
37
Distance to CBD
2.2km
Median Personal Income
$1,061 / week
Sole Person Household
40.9%
Median Family Income
$2,606 / week
Family Households
47.1%
Data supplied by ABS 2016 Census.

Snapshot of New Farm

Brisbane’s ultimate destination suburb represents a lavish lifestyle of café culture, arts and entertainment amidst tree-lined streets with stunning river views. Beginning life as its namesake suggests, New Farm’s proximity to the city has seen the suburb gradually gentrified from rural land and grungy duckling, to the affluent hotspot it is today.

The array of New Farm architecture chronicle’s its story – from grand Queenslanders and heritage homes to slick new pads and refurbished dames, all radiating outwards from the iconic grown-up playground that is New Farm Park. As a riverside address, many homes enjoy wide expanses of water views, while the lush, leafy streetscapes provide a quiet haven from the hustle of the nearby city and commercial precincts.

Although a pocket of solace amidst it’s busier neighbours, New Farm enjoys one of Brisbane’s most exclusive and sought-after shopping destinations – the iconic James St. Paired with a bustling hub of restaurants, cafes and boutique bars, plus cultural and artistic drawcards such as the Brisbane Powerhouse – the area attracts a steady stream of visitors. However, the low-key, community vibe of the suburb is well maintained, with the many visitors eagerly adopting the laid-back, luxe lifestyle.

With visitors aplenty, picturesque New Farm and its hip sensibility also provides a strong lure to young professionals wanting to call it home. Since the 1990’s, high-income couples have been moving in and staking their claim. However, recently a new trend has emerged with an influx of baby boomers trading their empty nests to capitalise on low-maintenance living supported by the luxury apartment and latte lifestyle of New Farm. Meanwhile, many of the larger refurbished properties remain home to long-established local families.

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