Suburb Profile Report for Chigwell TAS (7011)

Chigwell House: Median price $235,000, Annual capital growth 2.48%, Number of sales 40, Weekly median advertised rent $300

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

TAS has seen average median house prices change by 7.09% which means that Chigwell, 7011 has done well for property investors by showing a capital gain of 11.37% over the last year

While Chigwell,7011 ranked number 28th in TAS for increase in median house value (annualised) increase, it is ranked 35th over the last 5 years.

Property investors looking for a bargain in Chigwell should be aiming for at least -6.41% off the asking price, which is the average vendor discount being achieved at the moment.

Advertised rents are around the $300 mark per week – giving a return of 6.64% based on the median price in Suburb

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February 2017

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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

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 strong

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Metrics i HOUSE UNIT
$235,000 N/A
6.82% N/A
11.37% N/A
2.48% N/A
$300 N/A
40 N/A
6.64% N/A
49.96 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 1811
Median household income ($/weekly) 794
Median age of persons 33
Median housing loan repayment ($/monthly) 1296
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 247 13.6
    25-34 years 267 14.7
    35-44 years 245 13.5
    45-54 years 203 11.2
    65-74 years 162 8.9
    Others 688 38.0
    Age Group
    Census Count Percent(%)
    Not Married 636 50.1
    Registered Married 429 33.8
    Defacto Relationship 204 16.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1587 93.2
    Papua New Guinea 7 0.4
    South Africa 6 0.4
    United Kingdom 39 2.3
    Other 28 1.6
    Others 36 2.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 7 0.4
    Christianity 1101 68.8
    Hinduism 9 0.6
    Other Religious Groups 11 0.7
    No Religion 470 29.4
    Others 3 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 85 13.2
    $400-$599 93 14.4
    $600-$799 93 14.4
    $800-$999 69 10.7
    $1,000-$1,249 79 12.2
    Others 226 35.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 563 42.7
    Employed, worked full-time 405 30.8
    Employed, worked part-time 239 18.1
    Unemployed, looking for work 63 4.8
    Employed, away from work 47 3.6
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 106 15.3
    Community & personal service workers 96 13.9
    Clerical & administrative workers 105 15.2
    Sales 84 12.2
    Labourers 124 17.9
    Others 176 25.5
    Occupation
    Census Count Percent(%)
    Pre-school 19 4.8
    Infants/Primary 165 41.5
    Secondary 98 24.6
    Technical or Further Educational Institution 74 18.6
    University or other Tertiary Institutions 31 7.8
    Others 11 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1487 87.7
    Semi-detached, row or terrace house, townhouse 152 9.0
    Flat, unit or apartment 56 3.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 290 41.9
    Rented 226 32.7
    Fully owned 173 25.0
    Other tenure type 3 0.4
    Tenure Type
Census 2011, ABS
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