Gagebrook has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 5.77% to date .
Taking the average capital gain, or increase in median house value, Gagebrook,7030 has racked up an average of 5.77% over the period. This ranks it number 2026th in the whole country for real estate investors looking at median house price increases.
Gagebrook7030 is located in TAS which offers an average discount of -7.06% to property investors. Gagebrook itself is showing figures that indicate -7.82% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Gagebrook the average time real estate has been on the market is 65 days.
Property investors should expect to get $240 weekly from the median priced house in this suburb.
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%.