With a capital gain of 5.40% for the last 12 months, Kingston, 7050 has performed for property investments than its average annual 3.79% property growth over the last 5 years.
Comparing Kingston,7050 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -4.45% to buyers in Kingston at the moment, which is less than average for the rest of TAS.
Residents and property investors in Kingston have been waiting around 61.78 days to sell a property.
Situated 10.86km from the CBD, Kingston is one of Kingborough localities in the postcode 7050.
Giving property investors a a stable capital gain of 8.11% for the last year, Kingston, 7050 is the 511th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kingston has increased when compared to the 5 year average annual rate.
At number 33th of TAS’s most discounted properties, Kingston is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Kingston the average time real estate has been on the market is 67.26 days.
Kingston is 38th on a list of best yielding suburbs for rents in TAS with a 5.20% return
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.