With a capital gain of 5.77% for the last 12 months, Gagebrook, 7030 has performed for property investments than its average annual 4.93% property growth over the last 5 years.
The five-year average increase in median property values for Gagebrook,7030 has given property investors a potential capital gain of -7.80% across each of those five years.
Property buyers and investors in Gagebrook 7030 should be seeing an average reduction in asking price of around -8.30% . This means that Gagebrook is holding prices well when compared to other suburbs in TAS.
With the median price for a house in Gagebrook being $137500 and the advertised rent reaching $240 the gross rental yield for property investors calculates out to be 9.08%
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
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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.
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%.