At number 1868th in the list of Australian suburbs ordered by increase in median house value over the last year, Kingston, 7050 is in the top half with a property value increase of 6.58% recorded in median house prices.
Kingston,7050 has offered an average of 6.58% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in Kingston are currently offering property investors an average price cut of -4.10% below the asking price at the moment.
In the last year 169 properties changed hands in Kingston, which puts it as the 3rd most active market in TAS when comparing the number of sales per suburb.
The TAS suburb of Kingston, 7050 is in the Kingborough local government area.
Giving property investors a a stable capital gain of 6.87% for the last year, Kingston, 7050 is the 562th highest performer in Australia in this respect.
Comparing Kingston,7050 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Kingston is $319000, with sellers offering an average of -4.63% off the asking price.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 2.59%, investors should hope to achieve an overall return of 5.22%
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.