Over the last year, property investments in Mornington, 7018 have given investors a capital gain of 2.58%. This compares badly with the 6.16% for TAS as a whole.
Over the longer term, Mornington has seen property prices show investors a 16.37% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Mornington is offering property investors an average of -6.57. This rate of discount on properties puts Suburb at number 145th in terms of most discounted suburbs in TAS
Advertised rents are around the $352.5 mark per week – giving a return of 6.14% based on the median price in Suburb
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
Information supplied by:
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.