Property value increases in Wynyard have tracked higher than the TAS average of 10.33% over the last 12 months.
Wynyard,7325 has offered an average of 20.76% return per annum in house price rises to property investors over the last three years.
Vendor discounting in Wynyard is giving property investors an average Vendor Discount of around -5.42%. This puts suburb at number 89th in TAS when ranking the most discounted suburbs.
A $280 per week rent on the median house gives suburb investors a gross yield of circa 5.11%, without taking into account capital value appreciation, which has been averaging out at 3.35%.
At number 1462th in the list of Australian suburbs ordered by increase in median house value over the last year, Wynyard, 7325 is in the BOTTOM 20% with a property value increase of -5.96% recorded in median house prices.
If we look at median property appreciation over just the last three months, Wynyard has given property investors a paper return of -5.96%. This puts Suburb as 50 on a list of fastest fasting appreciating suburbs in TAS
The most recent median price for Wynyard is $221000, with sellers offering an average of -6.31% off the asking price.
At number 1193 in a list of fastest selling suburbs, Wynyard is in the bottom 20% of suburbs in Australia with an average of days on market 100.78 for properties listed there.
Property investors should expect to get $250 weekly from the median priced house in this suburb.
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.