At number 437th in the list of Australian suburbs ordered by increase in median house value over the last year, Old Beach, 7017 is in the top 20% with a property value increase of 15.13% recorded in median house prices.
Old Beach,7017 has offered an average of 15.13% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -5.11% to buyers in Old Beach at the moment, which is less than average for the rest of TAS.
Often selling an investment property can take time, and in Old Beach the average time real estate has been on the market is 27.11 days.
The TAS suburb of Old Beach, 7017 is in the Brighton (M) local government area.
Giving property investors a a solid capital gain of 11.86% for the last year, Old Beach, 7017 is the 197th highest performer in Australia in this respect.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 5.36%, without taking into account capital value appreciation, which has been averaging out at 1.47%.
Housing supply in the suburb of Old Beach nosedives by nearly 50% in the 12 months leading up to March 2018Full summary
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Housing stock plummets in Hobart suburb
Median house price: $400,000
Stock on market: -59.6%
12-month growth: 3.9%
Housing supply in the suburb of Old Beach nosedives by nearly 50% in the 12 months leading up to March 2018.
The number of houses on the market went from 51 in March 2017 to just 18 one year later. As a suburb of Hobart, Old Beach seems to be following the city’s overall trend of tightening supply – a strategy that has been paying off given the consistent pattern of growth reported since 2013. Even then, houses remain affordable at a median price of $400,000.
Houses stay on the market for less than 60 days; although this doesn’t indicated an incredibly strong level of demand, it is relatively balanced. In addition, rental returns for investors are high at 5.1%.
Old Beach is situated next to the Derwent River. It is also just 7km from the Baskerville Raceway.Close