Suburb Profile Report for Chigwell TAS (7011)

Chigwell House: Median price $206,000, Annual capital growth 2.70%, Number of sales 25, Weekly median advertised rent $305

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

Source: CoreLogic

  • House Report
  • Expert Report

Giving property investors a an unimpressive capital gain of -0.72% for the last year, Chigwell, 7011 is the 2965th highest performer in Australia in this respect.

A 2.49% growth in median value for property investors in Chigwell,7011 puts this suburb at number 129th in terms of best performing suburbs in TAS

LACK OF BUYER INTEREST may well be the reason that Chigwell is offering property investors an average of -7.01. This rate of discount on properties puts Suburb at number 33th in terms of most discounted suburbs in TAS

With the median price for a house in Chigwell being $206000 and the advertised rent reaching $305 the gross rental yield for property investors calculates out to be 7.70%

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While Chigwell's recent capital growth figures haven't been spectacular, it's strong rental yields will be of particular interest to property investors.

Full summary

While Chigwell's recent capital growth figures haven't been spectacular, it's strong rental yields will be of particular interest to property investors.

At around 11km north of Hobart city centre, Chigwell is well situated along the Brooker Highway, and is a five-minute drive from the scenic Lowestoft Bay and Berriedale Foreshore Reserve. It's also well served by public transport.

Schools and major shopping centres are nearby, while the Royal Hobart Showgrounds, Elwick Racecourse, Derwent Entertainment Centre and the popular Aquatic Leisure Centre are all a five-minute drive away.

The suburb’s relative affordability is another major strong point. Its median house price is close to $50,000 lower than that of neighbouring Berriedale, for example.

Petrusma Property sales representative Tegan Rainbird says Chigwell’s comparative affordability and great rental returns make it an attractive location to invest in.

“We’re tending to find that people that have bought there, say four or five years ago, that are on our books as investors, have definitely made money,” Rainbird says.

“People are tending to really look for the bargains – you can still buy a nice three-bedroom house or three-bedroom villa for under $200,000.”

Allunga Road is a popular choice for investors, but Rainbird advises keeping an eye on Boondar Street as an up and coming part of Chigwell.

Close
HOUSE UNIT
$206,000 N/A
-2.37% N/A
-0.72% N/A
2.70% N/A
$305 N/A
25 N/A
7.70% N/A
109.95 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Balanced (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
Chart Table
Recent sales & rentals