At number 3270th in the list of Australian suburbs ordered by increase in median house value over the last year, Allenstown, 4700 is in the BOTTOM 20% with a property value increase of -9.17% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Allenstown comes in at number 823th in QLD.
Allenstown4700 is located in QLD which offers an average discount of -7.01% to property investors. Allenstown itself is showing figures that indicate -13.70% is the average achievable by property buyers investing in the suburb.
Allenstown, 4700’s gross rental yield is 7.35%
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Suburb suffers a negative streak
Median house price: $185,000
Three-year growth: -30.2%
Rental yield: 7.6%
A stone’s throw from the Rockhampton CBD, the small suburb of Allenstown was named for builder William Allen, a builder in the 1860s.
The centre of its commercial hub is the recently refurbished Allenstown Square shopping centre. There are also two primary schools here, namely, Allenstown State School, which was opened all the way back in 1887, and St Peter’s School. The suburb is quite rich in history as well, with a few heritage-listed sites including St Joseph’s Cathedral and South Rockhampton Cemetery.
Allenstown also houses three of Rockhampton’s seven Big Bull statues, which were built to emphasise Rockhampton’s reputation as Australia’s beef capital. However, house values have consistently been dropping since 2014, with the median price slipping below the $200,000 mark. While the rental yield is remarkably high at 7.6%, this could be a difficult market to work with.