Chigwell has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 2.38% to date .
A 7.50% growth in median value for property investors in Chigwell,7011 puts this suburb at number 62th in terms of best performing suburbs in TAS
Chigwell, 7011 is offering TAS ‘s 72th 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.
A $305 per week rent on the median house gives suburb investors a gross yield of circa 7.38%, without taking into account capital value appreciation, which has been averaging out at 2.53%.
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