At number 865th in the list of Australian suburbs ordered by increase in median house value over the last year, Margate, 7054 is in the top 30% with a property value increase of 15.69% recorded in median house prices.
While Margate,7054 ranked number 83th in TAS for increase in median house value (annualised) increase, it is ranked 44th over the last 5 years.
With the median price for a house in Margate being $472000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 4.30%
Over the last year, property investments in Margate, 7054 have given investors a capital gain of 3.05%. This compares badly with the 7.28% for TAS as a whole.
Over the longer term, Margate has seen property prices show investors a 17.34% return over the last 3 years. This is worse than over the last 12 months
In the last year 22 properties changed hands in Margate, which puts it as the 33th most active market in TAS when comparing the number of sales per suburb.
This suburb has logged significant 10% growth in the housing market over the past 12 months leading up to April 2017.Full summary
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Small town offers affordable community living
Median house price: $432,500
Three-year growth: 14.27%
Rental yield: 4.57%
A 25-minute drive from Hobart past Blackmans Bay will take you to the seaside haven of Margate, which has logged significant 10% growth in the house market over the past 12 months leading up to April 2017.
The median house price is comfortably under $450,000, making it an excellent bargain considering it is less than 30 minutes from the capital. Considerable development over the past couple of decades has contributed to Margate’s rise, with shops and cafes serving the community. The suburb is also home to Margate Primary School, a health and recreation centre with a pool, as well as Dru Point Bicentennial Park, which is on the banks of North-west Bay.
Bus route 415 travels from Margate Central to Hobart daily.