Over the last year, property investments in Chigwell, 7011 have given investors a capital gain of 9.38%. This compares favourably with the 6.16% for TAS as a whole.
If we look at median property appreciation over just the last three months, Chigwell has given property investors a paper return of 4.60%. This puts Suburb as 47 on a list of fastest fasting appreciating suburbs in TAS
LACK OF BUYER INTEREST may well be the reason that Chigwell is offering property investors an average of -6.57. This rate of discount on properties puts Suburb at number 87th in terms of most discounted suburbs in TAS
Property investors should expect to get $305 weekly from the median priced house in this suburb.
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