At number 2131th in the list of Australian suburbs ordered by increase in median house value over the last year, Kingston, 7050 is in the BOTTOM 50% with a property value increase of 4.02% recorded in median house prices.
If we look at median property appreciation over just the last three months, Kingston has given property investors a paper return of 0.78%. This puts Suburb as 80 on a list of fastest fasting appreciating suburbs in TAS
At number 138th of TAS’s most discounted properties, Kingston is in the TOP 20% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $380 weekly from the median priced house in this suburb.
At number 349th in the list of Australian suburbs ordered by increase in median house value over the last year, Kingston, 7050 is in the top 30% with a property value increase of 11.01% recorded in median house prices.
Kingston,7050 has offered an average of 11.01% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Kingston, 7050. Typically our figures indicate that -5.26% is being offered, which puts this TAS suburb at 686th most discounted overall in Australia.
A $310 per week rent on the median house gives suburb investors a gross yield of circa 5.20%, without taking into account capital value appreciation, which has been averaging out at 2.72%.
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.