Mornington has had a quite poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of 1.72% to date .
Comparing Mornington,7018 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Mornington should be aiming for at least -4.22% off the asking price, which is the average vendor discount being achieved at the moment.
Situated 5.41km from the CBD, Mornington is one of Clarence localities in the postcode 7018.
Just 7km from Hobart but set in a landscape of mountains and rivers, Mornington is growing in popularity as buyers realise the value they can get for their money.Full summary
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Just 7km from Hobart but set in a landscape of mountains and rivers, Mornington is growing in popularity as buyers realise the value they can get for their money.Close
With a low house median of $283,000, Mornington is an affordable suburb that returns an excellent yield of 5.8% – virtually the same rate of return as neighbouring suburbs Bellerive and Howrah, which have median house values in the mid-$400,000s and $368,000 respectively.
This is likely to see house-hunters searching out cheaper dwellings and rents in nearby suburbs, and Mornington ts the bill for both historic capital growth and yield.
A vacancy rate of 1.15% lands Mornington in fth place in Tasmania for lowest vacancy rates.
The suburb appeals to families, and three-bedroom houses are in highest demand.
Newer homes on eastern streets are at the higher end of the median, while high-set houses have mountain views.