Investment property in Margate has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 20.76%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Margate has increased when compared to the 5 year average annual rate.
At number 132th of TAS’s most discounted properties, Margate is in the TOP 20% of the state/territory when listing in order of most discounted to least.
In the last year 55 properties changed hands in Margate, which puts it as the 58th most active market in TAS when comparing the number of sales per suburb.
A $450 per week rent on the median house gives suburb investors a gross yield of circa 4.11%, without taking into account capital value appreciation, which has been averaging out at 4.76%.
Giving property investors a a solid capital gain of 13.56% for the last year, Margate, 7054 is the 252th highest performer in Australia in this respect.
Margate,7054 was ranked 279 in Australia by increase in median property value over the quarter.
Margate7054 is located in TAS which offers an average discount of -4.11% to property investors. Margate itself is showing figures that indicate -3.45% is the average achievable by property buyers investing in the suburb.
With the median price for a house in Margate being $335000 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 5.12%
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.