If you compare the increase in value of investment property in Howrah, 7018 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 13.39%.
Taking the average capital gain, or increase in median house value, Howrah,7018 has racked up an average of 13.39% over the period. This ranks it number 2684th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Howrah should be aiming for at least -5.65% off the asking price, which is the average vendor discount being achieved at the moment.
Situated 6.55km from the CBD, Howrah is one of Clarence localities in the postcode 7018.
Property value increases in Howrah have tracked close to the TAS average of 3.78% over the last 12 months.
While Howrah,7018 ranked number 27th in TAS for increase in median house value (annualised) increase, it is ranked 28th over the last 5 years.
The most recent median price for Howrah is $306000, with sellers offering an average of -4.18% off the asking price.
In the last year 48 properties changed hands in Howrah, which puts it as the 8th most active market in TAS when comparing the number of sales per suburb.
For a beachside suburb that’s about six kilometres from the Hobart CBD, Howrah has a lot going for itFull summary
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For a beachside suburb that’s about six kilometres from the Hobart CBD, Howrah has a lot going for it.Close
Let’s start with the fact that houses here have a median price of less than $400,000.
For that, you can get your hands on a three-bedroom house near Mortyn Pl or Jasmin Ct, which have the double benefit of being quiet streets yet very close to great amenities including shops, transport, schools and the beach.
In addition to having the luxury of watching the water, many residents there also benefit from stunning mountain views.
The vacancy rate of Howrah is a very low at 0.45%, according to Real Estate Investar.
The fact it has not grown a huge amount over the past five years or so makes this suburb a prime candidate for experiencing a jump in values in the medium-long term.
The gross rental yield of 5% is also good news for investors.
It is also very close to Bellerive and Rosny Park which offers a range of commercial services that residents of Howrah can take advantage of.
In Howrah itself is the Shoreline Shopping Centre and a number of schools and parks.