Warrane has had a A very good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 15.97% to date .
Comparing Warrane,7018 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Warrane is $265000, with sellers offering an average of -2.86% off the asking price.
Situated 4.96km from the CBD, Warrane is one of Clarence localities in the postcode 7018.
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%
LACK OF BUYER INTEREST may well be the reason that Warrane is offering property investors an average of -5.25. This rate of discount on properties puts Suburb at number 41th in terms of most discounted suburbs in TAS
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.