Chigwell, 7011 ranked 74th in TAS when comparing growth in median property values or capital gain over the last 12 months. Chigwell is one of 606 in our list for TAS
Across a shorter period, Chigwell, 7011 has seen a median price increase of 1.64% over the last quarter.
Vendor discounting in Chigwell is giving property investors an average Vendor Discount of around -7.60%. This puts suburb at number 51th in TAS when ranking the most discounted suburbs.
In the last year 38 properties changed hands in Chigwell, which puts it as the 76th most active market in TAS when comparing the number of sales per suburb.
A $305 per week rent on the median house gives suburb investors a gross yield of circa 7.29%, without taking into account capital value appreciation, which has been averaging out at 2.31%.
Despite a general state-wide trend of low supply in Tasmania, the suburb of Chigwell in the northern suburbs area of Hobart recorded a significant increase in stock on market.Full summary
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Median house price: $206,000
Stock on market: 61.5%
12-month growth: -0.72%
Despite a general state-wide trend of low supply in Tasmania, the suburb of Chigwell recorded a significant increase in stock on market.
Real Estate Investar noted that the number of houses in the area increased from 10 to 18 over a 12-month period. This may have been a response to the needs of the house market in Hobart as demand increases with property affordability and a strengthening local economy. By contrast, unit supply was consistent.
CoreLogic points out that the new housing stock has caused prices in Chigwell to drop slightly, pulling the median house price to $206,000. Nonetheless, this may turn out to be a benefit for investors – the low price is coupled with a remarkably high yield of nearly 8%, which should allow them to turn a profit. Moreover, Chigwell is just a 20-minute drive from the Hobart CBD. As a result, the average vacancy rate is a very low 1.25%, indicating that demand is strongClose