If you compare the increase in value of investment property in Warrane, 7018 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this TAS suburb was 6.00%.
A -0.63% growth in median value for property investors in Warrane,7018 puts this suburb at number 70th in terms of best performing suburbs in TAS
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Warrane, 7018. Typically our figures indicate that -5.06% is being offered, which puts this TAS suburb at 2471th most discounted overall in Australia.
Residents and property investors in Warrane have been waiting around 36.47 days to sell a property.
The TAS suburb of Warrane, 7018 is in the Clarence local government area.
Warrane is just 5km east of the Hobart CBD, across the Derwent River. It’s a former Housing Commission suburb which has had something of a rocky reputation in the past: however, it’s becoming increasingly popular for younger buyers looking for affordable housing and property investors. Full summary
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Warrane is just 5km east of the Hobart CBD, across the Derwent River. It’s a former Housing Commission suburb which has had something of a rocky reputation in the past: however, it’s becoming increasingly popular for younger buyers looking for affordable housing and property investors.
Matthew Carn, director of Raine & Horne Eastern Shore, reckons the suburb attracts three types of investor: small-scale developers, renovators and those looking for an affordable investment.
“One of the strengths of the suburb is the size of the blocks its houses are built upon: these are typically around 800 square metres in size,” says Carn. “What many investors are doing is buying a property, chopping the block in two and building a unit on the back of the block.”
The predominance of older-style weatherboard houses also means much of the area is ripe for renovation, he adds.
While the area is largely residential, neighbouring Rosny Park has “all the services you could need”, according to Carn: it’s also well-located on the Tasman Highway, with commutes to the CBD taking less than 10 minutes. As the suburb is quite long and narrow, it’s difficult to stray too far from the highway, adds Carn. Instead, he recommends seeking out properties that are as close to the amenities and employment opportunities of Rosny Park as possible.