Warrane has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 11.11% to date .
Over the longer term, Warrane has seen property prices show investors a 21.95% return over the last 3 years. This is worse than over the last 12 months
At number 100th of TAS’s most discounted properties, Warrane is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Warrane the average time real estate has been on the market is 16.38 days.
If you compare the increase in value of investment property in Warrane, 7018 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this TAS suburb was -1.39%.
Over the longer term, Warrane has seen property prices show investors a 11.05% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Warrane is offering property investors an average of -5.48. This rate of discount on properties puts Suburb at number 34th in terms of most discounted suburbs in TAS
Property investors should expect to get $300 weekly from the median priced house in this suburb.
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.