704/42 Wyandra Street Newstead QLD 4006

flood overlay risk | 1-bed unit | 8% growth in 7 years | building 40% renters The flood overlay adds a measurable cost to both resale velocity and insurance premiums, typically reducing buyer pool by 15-20% in a rising market. Comparable sales in the building show unit 1107, an identical 1-bed, returned only 4.62% annualised growth over seven years against a suburb median of 8-9%, meaning this property has lagged due to the flood risk and high renter concentration. The unit itself holds up better as a rental given $655 weekly income, but capital appreciation is constrained. This is a hold for income, not a bet on fast equity gain. What makes this unit competitive is its level-7 position in a well-regarded complex with ducted air, a study, and secure parking-features that command premium rent in Newstead’s young professional market. The building’s 60% owner-occupier share and strong NBN infrastructure support stable tenancy demand, while the 1-bed floorplan suits downsizers or first-home buyers who value low-maintenance living over growth. It serves best as a long-term hold for someone prioritising steady cash flow over capital upside. From the comparable sales data: identical unit 1107 at $598k after 7 years shows 4.62% annual growth; newer sales at $640k (11 years) and $815k (5 years) for larger units. This property at $767k-$810k sits above the 1-bed median of $660k, meaning buyer must accept a yield circa 4.2-4.5% and expect slower appreciation than suburb average. Proceed only if yield alignment and flood risk acceptance are confirmed by a full strata and insurance review.