Wynyard is an average performer in TAS when comparing median price capital growth over the last year. Wynyard gave property investors a average capital gain figure when compared to the rest of the state, with 6.57%.
If we look at median property appreciation over just the last three months, Wynyard has given property investors a paper return of 0.80%. This puts Suburb as 110 on a list of fastest fasting appreciating suburbs in TAS
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Wynyard, 7325. Typically our figures indicate that -6.14% is being offered, which puts this TAS suburb at 1411th most discounted overall in Australia.
Renters in Suburb are facing rents around $3360 per annum or $280 every week.
If you compare the increase in value of investment property in Wynyard, 7325 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this TAS suburb was -7.84%.
Taking the average capital gain, or increase in median house value, Wynyard,7325 has racked up an average of -7.84% over the period. This ranks it number 526th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Wynyard 7325 should be seeing an average reduction in asking price of around -5.53% . This means that Wynyard is holding prices well when compared to other suburbs in TAS.
On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.
Using the current median advertised rental of $260 and the average annual increase in value of a median property of 3.29%, investors should hope to achieve an overall return of 5.75%
In the past 12 months leading up to May 2017, Wynyard reported over 8% growth in unit prices; nonetheless, the median price remains very low at under $250,000.Full summary
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Unit market blooms in Table Cape home
Median unit price: $245,000
Three-year growth: 15.29%
Rental yield: 5.09%
Drive 20 minutes west out from Burnie, and you’ll enter the rural suburb of Wynyard. It is regarded as a service hub for the surrounding towns, which could account for its strong performance despite being a considerable distance from Hobart.
In the past 12 months leading up to May 2017, Wynyard reported over 8% growth in unit prices; nonetheless, the median price remains very low at under $250,000. Given the high average yield that investors can expect to earn (5.1%) and the suburb’s potential for long-term appeal, we could see investments go up.
Wynyard is a tourist destination known for its beach, which facilitates water activities such as fishing and kayaking. Cafes and shops line the streets, and the Wynyard Foreshore Market is held every couple of weeks.