Property value increases in Somerset have tracked higher than the TAS average of 4.95% over the last 12 months.
While Somerset,7322 ranked number 5th in TAS for increase in median house value (annualised) increase, it is ranked 14th over the last 5 years.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.01% offered to property buyers. Sellers in Somerset itself are offering an average vendor discount of -7.76% to real estate investors.
With the median price for a house in Somerset being $277000 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 5.07%
TAS has seen average median house prices change by 4.00% which means that Somerset, 7322 has done well for property investors by showing a capital gain of -29.78% over the last year
If we look at median property appreciation over just the last three months, Somerset has given property investors a paper return of -10.34%. This puts Suburb as 50 on a list of fastest fasting appreciating suburbs in TAS
Property investors should expect to get $205 weekly from the median priced house in this suburb.