Bicheno has had a A very good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 15.98% to date .
The five-year average increase in median property values for Bicheno,7215 has given property investors a potential capital gain of 13.80% across each of those five years.
The most recent median price for Bicheno is $317500, with sellers offering an average of -6.52% off the asking price.
At number 2954 in a list of fastest selling suburbs, Bicheno is in the bottom 30% of suburbs in Australia with an average of days on market 108.31 for properties listed there.
With the median price for a house in Bicheno being $317500 and the advertised rent reaching $275 the gross rental yield for property investors calculates out to be 4.50%
About half an hour north of Coles Bay, the suburb of Bicheno is a popular holiday town by the water. With the upswing in the Tasmanian property market, Bicheno’s house market has followed suit, recording almost 18% growth in the February 2017 quarter.Full summary
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Seafood town hooks buyers
Median house price: $341,000
Three-year growth: 45.11%
Rental yield: 4.27%
About half an hour north of Coles Bay, the suburb of Bicheno is a popular holiday town by the water. With the upswing in the Tasmanian property market, Bicheno’s house market has followed suit, recording almost 18% growth in the February 2017 quarter.
Having sustained growth over the past five years, Bicheno certainly looks to have long-term potential especially given the rosy outlook for the state. Hence, buyers will want to consider this suburb while prices and the average rental yield remain reasonable. Sellers have a good chance of profiting on the other end of the market, with houses selling at an average discount rate of just 5.36%.
The tourism boom has resulted in the establishment of shops and restaurants, as Bicheno is known for its seafood. There are also parks and reserves, including the Diamond Island Nature Reserve that gets up close and personal with the local penguins.Close