Kingston, 7050 ranked 65th in TAS when comparing growth in median property values or capital gain over the last 12 months. Kingston is one of 606 in our list for TAS
If we look at median property appreciation over just the last three months, Kingston has given property investors a paper return of 2.05%. This puts Suburb as 81 on a list of fastest fasting appreciating suburbs in TAS
LACK OF BUYER INTEREST may well be the reason that Kingston is offering property investors an average of -7.15. This rate of discount on properties puts Suburb at number 148th in terms of most discounted suburbs in TAS
Using the current median advertised rental of $377.5 and the average annual increase in value of a median property of 4.14%, investors should hope to achieve an overall return of 4.92%
Kingston, 7050 ranked 18th in TAS when comparing growth in median property values or capital gain over the last 12 months. Kingston is one of 606 in our list for TAS
While Kingston,7050 ranked number 36th in TAS for increase in median house value (annualised) increase, it is ranked 19th over the last 5 years.
The most recent median price for Kingston is $310000, with sellers offering an average of -5.34% off the asking price.
Situated 10.30km from the CBD, Kingston is one of Kingborough localities in the postcode 7050.
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.