Summerhill is in the bottom 40% in TAS when comparing median price capital growth over the last year. Summerhill gave property investors a disappointing capital gain figure when compared to the rest of the state, with 1.30%.
Taking the average capital gain, or increase in median house value, Summerhill,7250 has racked up an average of 1.30% over the period. This ranks it number 2314th in the whole country for real estate investors looking at median house price increases.
Summerhill, 7250 is offering TAS ‘s 93th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this TAS.
In the last year 54 properties changed hands in Summerhill, which puts it as the 52th most active market in TAS when comparing the number of sales per suburb.
Situated 158.23km from the CBD, Summerhill is one of Launceston localities in the postcode 7250.
Summerhill is situated 3km to the south of the Launceston CBD. It’s a primarily residential suburb, but is located within each reach of two shopping centres, primary and secondary schooling, medical facilities, parks and public transport. Properties to the north-west of the suburb also overlook the Trevallyn recreational area and the South Esk River. Full summary
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Summerhill is situated 3km to the south of the Launceston CBD. It’s primarily a residential suburb, but is located within each reach of two shopping centres, primary and secondary schooling, medical facilities, parks and public transport. Properties to the north-west of the suburb also overlook the Trevallyn recreational area and the South Esk River.
The suburb is dominated by families, with ABS figures reporting that more than half of its residents are aged between 20 and 60. Weekly family incomes are higher than the Tasmanian average, too, with SQM Research projections pegging salaries at $1,203pw. Twenty-seven per cent of properties are rented, with the remainder either paid off (40%) or under mortgage.
It’s an affordable suburb, with the median house price around $50,000 lower than northern neighbour West Launceston. Rents are comparable to West Launceston too. Herron Todd White’s Andrew Peck reckons that market conditions are contributing to high rental yields.
“With current housing stress, rents have been increasing and this suburb provides affordable family housing,” he says.
Peck adds that properties in the area are typically 1970s three-bedroom, one-bathroom, low set brick homes, and generally low maintenance. The fact that many houses are 1970s properties may also provide opportunities to add value via cosmetic renovation.