Warrane, 7018 ranked 63th in TAS when comparing growth in median property values or capital gain over the last 12 months. Warrane is one of 606 in our list for TAS
Warrane,7018 has offered an average of 10.81% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Warrane should be aiming for at least -3.56% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 2.28%, investors should hope to achieve an overall return of 6.34%
Property value increases in Warrane have tracked just lower than the TAS average of 8.07% over the last 12 months.
If we look at median property appreciation over just the last three months, Warrane has given property investors a paper return of 1.79%. This puts Suburb as 27 on a list of fastest fasting appreciating suburbs in TAS
Warrane, 7018 is offering TAS ‘s 25th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this TAS.
Warrane is 8th on a list of best yielding suburbs for rents in TAS with a 6.29% return
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.