Investment property in Warrane has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.11%
Taking the average capital gain, or increase in median house value, Warrane,7018 has racked up an average of 9.11% over the period. This ranks it number 1765th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Warrane is giving property investors an average Vendor Discount of around -6.40%. This puts suburb at number 96th in TAS when ranking the most discounted suburbs.
Residents and property investors in Warrane have been waiting around 17.78 days to sell a property.
Renters in Suburb are facing rents around $3600 per annum or $300 every week.
Property value increases in Warrane have tracked close to the TAS average of 1.72% over the last 12 months.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.62% offered to property buyers. Sellers in Warrane itself are offering an average vendor discount of -4.23% to real estate investors.
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.