With a capital gain of 1.99% for the last 12 months, Kingston, 7050 has performed for property investments than its average annual 3.80% property growth over the last 5 years.
A 7.92% growth in median value for property investors in Kingston,7050 puts this suburb at number 89th in terms of best performing suburbs in TAS
Kingston, 7050 is offering TAS ‘s 135th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this TAS.
The TAS suburb of Kingston, 7050 is in the Kingborough local government area.
Giving property investors a a solid capital gain of 12.80% for the last year, Kingston, 7050 is the 291th highest performer in Australia in this respect.
Kingston,7050 has offered an average of 12.80% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Kingston is giving property investors an average Vendor Discount of around -5.29%. This puts suburb at number 18th in TAS when ranking the most discounted suburbs.
With the median price for a house in Kingston being $315000 and the advertised rent reaching $304 the gross rental yield for property investors calculates out to be 5.02%
Kingston could be well positioned for long-term capital growth, with plenty of large scale infrastructure projects on the cards, including a shopping mall upgrade and a new bypass. Recent demand reflects this and the rental market remains especially tight.Full summary
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Kingston is a town of around 10,000 people 10km south of Hobart. Access to the city is via the Southern Outlet Road or the scenic Channel Highway. The town is within easy reach of the Derwent river, with Kingston Beach being a popular destination for dog walking, sailing and other water sports.
There are a number of schools in the town as well as several shopping centres: one of these, the Channel Court Shopping Centre, is currently undergoing a $23m redevelopment which will make it one of the region’s largest shopping centres.
The rental market in Kingston is very tight at just 0.85% vacancy rates according to DSRscore.com.au. Gross rental yield is currently sitting at 4.59% but rental shortage is expected to lift this higher over the near to medium term.
Rob Zubin, principal of My Property Hunter, reckons Kingston is well-positioned for long-term capital growth. It’s already among the top four performers in the state for capital growth, and further infrastructure development – including a new bypass, sports complex and school upgrades will stimulate further growth and buyer demand, including from retirees.
He recommends targeting single-level residences with no steps in order to broaden your property appeal to include older tenants and purchasers.
DSRscore.com.au agrees with this upbeat outlook. Based on the existing demand and supply situation, it calculates house prices to grow by an average 8% each year over the next two to three years.