Prospect Vale has had a quite poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of 2.27% to date .
While Prospect Vale,7250 ranked number 134th in TAS for increase in median house value (annualised) increase, it is ranked 146th over the last 5 years.
Prospect Vale7250 is located in TAS which offers an average discount of -6.10% to property investors. Prospect Vale itself is showing figures that indicate -4.57% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Prospect Vale the average time real estate has been on the market is 66.93 days.
Advertised rents are around the $347.5 mark per week – giving a return of 5.02% based on the median price in Suburb
Giving property investors a a poor capital gain of -7.66% for the last year, Prospect Vale, 7250 is the 1398th highest performer in Australia in this respect.
Across a shorter period, Prospect Vale, 7250 has seen a median price increase of 2.92% over the last quarter.
Our latest figures would indicate that property sellers in Prospect Vale are currently offering property investors an average price cut of -3.88% below the asking price at the moment.
Often selling an investment property can take time, and in Prospect Vale the average time real estate has been on the market is 108.3 days.
The TAS suburb of Prospect Vale, 7250 is in the Meander Valley (M) local government area.
The Greater Launceston suburb of Prospect Vale is benefitting from renewed investor interest in the Apple Isle. House values saw a boost of 5.1% in the 12 months to August 2018, bringing the median price past $350,000 and continuing a long-term trendFull summary
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Housing supply slip could create competition
Median house price: $357,500
Stock on market: -23.5%
12-month growth: 5.1%
The Greater Launceston suburb of Prospect Vale is benefitting from renewed investor interest in the Apple Isle. House values saw a boost of 5.1% in the 12 months to August 2018, bringing the median price past $350,000 and continuing a long-term trend.
The number of houses on the market also dropped considerably from 45 in August 2017 to just 25 a year later. The limited supply could strongly enhance demand, pushing house values further upward.
The suburb was originally a settlement for cattle, but it has since become commercialised. Prospect High School is located here, along with St Patrick’s College. The Prospect Vale Marketplace is a shopping hub that contains a Woolworths. An industrial park has also been established in this area. For sportspeople, St Patrick’s Old Collegians Football Club Oval serves as a facility.Close