Over the last year, property investments in Queenstown, 7467 have given investors a capital gain of 0.00%. This compares badly with the 3.12% for TAS as a whole.
If we look at median property appreciation over just the last three months, Queenstown has given property investors a paper return of -7.14%. This puts Suburb as 151 on a list of fastest fasting appreciating suburbs in TAS
Property buyers and investors in Queenstown 7467 should be seeing an average reduction in asking price of around -13.92% . This means that Queenstown is holding prices well when compared to other suburbs in TAS.
On average over the past year, suburb has had 5.42 sales per month, which equates to 65 per year.
With the median price for a house in Queenstown being $65000 and the advertised rent reaching $140 the gross rental yield for property investors calculates out to be 11.20%
Queenstown is located 165km northwest of Hobart on Tasmania’s west coast, on the western slopes of Mount Oliver. It’s a relatively small community, with a population estimated at 5,119 in 2009. It’s got a rich mining history, having been the centre of the Mount Lyell mining district in the early twentieth century.Full summary
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Queenstown is located 165km northwest of Hobart on Tasmania’s west coast, on the western slopes of Mount Oliver. It’s a relatively small community, with a population estimated at 5,119 in 2009. It’s got a rich mining history, having been the centre of the Mount Lyell mining district in the early twentieth century.
Its present industry still features mining, but is not reliant upon it – a number of mines still operate in the area, with exploration for further economic mineral deposits currently taking place. The town is also a popular tourism spot and is the terminus of the West Coast Wilderness Railway; additionally, it is home to a growing arts community, and hosted an arts and heritage festival in 2010.
Amenity-wise, the town is self-sufficient, with shops, cafes and restaurants centred around Orr Street and Sticht Street. The town also offers access to the Cradle Lake Mount St Clair National Park, the Franklin-Gordon Wild Rivers National Park, and Macquarie Harbour. Access is from the rest of the island is by car or daily bus to Hobart.
Investors may be interested in the scope for cash flow positive properties at very affordable prices. The median house price here is among the lowest in the country, while rental yields are approaching double digits.