With a capital gain of 19.08% for the last 12 months, Margate, 7054 has performed for property investments than its average annual 3.82% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Margate comes in at number 43th in TAS.
Margate, 7054 is offering TAS ‘s 120th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this TAS.
Residents and property investors in Margate have been waiting around 47.74 days to sell a property.
With the median price for a house in Margate being $515000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 4.24%
Investment property in Margate has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.00%
Comparing Margate,7054 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Margate should be aiming for at least -1.97% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $3750 per annum or $312.5 every week.
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.