TAS has seen average median house prices change by 7.76% which means that Legana, 7277 has done well for property investors by showing a capital gain of 5.73% over the last year
While Legana,7277 ranked number 90th in TAS for increase in median house value (annualised) increase, it is ranked 81th over the last 5 years.
The most recent median price for Legana is $410000, with sellers offering an average of -5.57% off the asking price.
A $370 per week rent on the median house gives suburb investors a gross yield of circa 4.64%, without taking into account capital value appreciation, which has been averaging out at 4.48%.
Legana has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -7.87% to date .
A 1.72% growth in median value for property investors in Legana,7277 puts this suburb at number 41th in terms of best performing suburbs in TAS
Sellers are offering property buyers an average discount of -0.88% to buyers in Legana at the moment, which is less than average for the rest of TAS.
Often selling an investment property can take time, and in Legana the average time real estate has been on the market is 101.813 days.
The TAS suburb of Legana, 7277 is in the West Tamar (M) local government area.
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Growth slows in wine hub
Median unit price: $303,000
Three-year growth: 8.8%
Rental yield: 5.3%
Just approximately 10 minutes from Launceston, the suburb of Legana is close to the Tamar Valley wineries.
Aside from being along the wine route, Legana is also a short distance from Riverside, putting families in proximity to Riverside Primary School and Riverside High School. The suburb is also home to a shopping centre, supermarkets, cafes, a pub and restaurants. Social activities are centred on sports – the community precinct is home to the Legana Cricket Club and a bicycle dirt jump park.
Following a strong run over the 2013-2018 period, however, Legana’s unit market may be easing up, with value increases going from double-digit to single-digit growth. Nonetheless, Launceston has gotten some shine lately with some spillover from Hobart – coupled with the affordability of Legana apartments and its strong rental returns, we could see things pick up again.