Suburb Profile Report for Gagebrook TAS (7030)

Gagebrook House: Median price $131,288, Annual capital growth 4.64%, Number of sales 30, Weekly median advertised rent $235

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Gagebrook, 7030 ranked 98th in TAS when comparing growth in median property values or capital gain over the last 12 months. Gagebrook is one of 606 in our list for TAS

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Gagebrook has fallen somewhat when compared to the 5 year average annual rate.

Our latest figures would indicate that property sellers in Gagebrook are currently offering property investors an average price cut of -6.44% below the asking price at the moment.

Property investors should expect to get $235 weekly from the median priced house in this suburb.

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Gagebrook’s astonishingly low median house price hints at an opportunity to secure strong rental returns for investors willing to take on a reasonable amount of risk.Full summary

Gagebrook’s astonishingly low median house price hints at an opportunity to secure strong rental returns for investors willing to take on a reasonable amount of risk.

Despite being one of Hobart’s northern most suburbs, Gagebrook in the town of Brighton, is just 15.8km away from the city centre. Its low median house price is all the more remarkable because of its position between two suburbs with considerably higher price averages. Gagebrook’s nearest neighbours are Bridgewater and increasingly exclusive Old Beach.

“Gagebrook might not be for every investor, but there are opportunities to secure very strong rental yields,” says My Property Hunter principal agent Rob Zubin. “Yield of 7.5 to 8% is achievable there and it might balance out a portfolio where an investor has high capital growth properties and is now looking at getting something with good rental returns.”

One of Gagebrook’s more attractive features is its position on the eastern shore of the picturesque Derwent River. The area is well serviced by both bus and rail via the Brighton town centre and the nearby Midland Highway. The Derwent Highway also dissects the Gagebrook suburb.

Zubin points out that the area is not without its problems. Anyone looking to pick up a Gagebrook investment property would need to recognise the impact of high unemployment in the suburb. However, with this risk might come reward.

“If you look at yield in the suburb – it will be very hard to get that in major centres anywhere on the mainland.”

Renting is a popular option in Gagebrook. According to the Australian Bureau of Statistics, 40% of Gagebrook homes are rented, set against a state average of 25%.

$131,288 N/A
1.58% N/A
0.99% N/A
4.64% N/A
$235 N/A
30 N/A
9.31% N/A
90.46 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Above average (U)
Find a mortgage broker in Gagebrook TAS
Total population 1567
Median household income ($/weekly) 622
Median age of persons 24
Median housing loan repayment ($/monthly) 975
Average household size 2.8
  • Census Count Percent(%)
    0-4 years 184 11.7
    5-14 years 356 22.7
    25-34 years 237 15.1
    35-44 years 184 11.7
    45-54 years 195 12.4
    Others 411 26.2
    Age Group
    Census Count Percent(%)
    Not Married 545 61.2
    Registered Married 200 22.4
    Defacto Relationship 146 16.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 1374 98.1
    Papua New Guinea 13 0.9
    United Kingdom 6 0.4
    Iraq 4 0.3
    Other 3 0.2
    Others 0 0.0
    Country of Birth
    Census Count Percent(%)
    Christianity 732 57.5
    No Religion 526 41.4
    Other Religious Groups 7 0.6
    Buddhism 4 0.3
    Islam 3 0.2
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $200-$299 47 10.4
    $300-$399 72 16.0
    $400-$599 80 17.7
    $600-$799 83 18.4
    $800-$999 43 9.5
    Others 126 27.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 537 58.8
    Employed, worked full-time 172 18.8
    Employed, worked part-time 98 10.7
    Unemployed, looking for work 77 8.4
    Employed, away from work 30 3.3
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 43 14.2
    Community & personal service workers 50 16.6
    Sales 42 13.9
    Machinery operators & drivers 36 11.9
    Labourers 85 28.1
    Others 46 15.2
    Census Count Percent(%)
    Pre-school 13 3.5
    Infants/Primary 188 51.2
    Secondary 111 30.2
    Technical or Further Educational Institution 30 8.2
    Other type of educational institution 15 4.1
    Others 10 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1382 97.1
    Flat, unit or apartment 32 2.2
    Semi-detached, row or terrace house, townhouse 9 0.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 354 73.4
    Being purchased 101 21.0
    Fully owned 24 5.0
    Other tenure type 3 0.6
    Tenure Type
Census 2011, ABS
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