Warrane has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 10.81% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Warrane has increased when compared to the 5 year average annual rate.
Property buyers and investors in Warrane 7018 should be seeing an average reduction in asking price of around -5.28% . This means that Warrane is holding prices well when compared to other suburbs in TAS.
Residents and property investors in Warrane have been waiting around 16.87 days to sell a property.
With the median price for a house in Warrane being $262625 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 6.34%
Investment property in Warrane has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.00%
While Warrane,7018 ranked number 24th in TAS for increase in median house value (annualised) increase, it is ranked 16th over the last 5 years.
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 -4.47% is being offered, which puts this TAS suburb at 853th most discounted overall in Australia.
With the median price for a house in Warrane being $280000 and the advertised rent reaching $345 the gross rental yield for property investors calculates out to be 6.41%
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.