Giving property investors a an unimpressive capital gain of 1.66% for the last year, Chigwell, 7011 is the 2611th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Chigwell,7011 has racked up an average of 1.66% over the period. This ranks it number 2866th in the whole country for real estate investors looking at median house price increases.
Chigwell, 7011 is offering TAS ‘s 81th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this TAS.
With the median price for a house in Chigwell being $214000 and the advertised rent reaching $305 the gross rental yield for property investors calculates out to be 7.41%
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
Information supplied by:
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