If you compare the increase in value of investment property in Hermit Park, 4812 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this QLD suburb was -9.09%.
Hermit Park,4812 has offered an average of -9.09% return per annum in house price rises to property investors over the last three years.
Hermit Park4812 is located in QLD which offers an average discount of -6.74% to property investors. Hermit Park itself is showing figures that indicate -11.17% is the average achievable by property buyers investing in the suburb.
Property value increases in Hermit Park have tracked lower than the QLD average of -0.33% over the last 12 months.
Hermit Park,4812 has offered an average of -20.26% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Hermit Park 4812 should be seeing an average reduction in asking price of around -10.08% . This means that Hermit Park is holding prices well when compared to other suburbs in QLD.
A $260 per week rent on the median house gives suburb investors a gross yield of circa 10.82%, without taking into account capital value appreciation, which has been averaging out at -4.48%.
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Hermit Park, QLD – House prices falling in Townsville
Postcode: 4812
Median house price: $317,500
Three-year growth: -7.4%
Rental yield: 5.7%
The Townsville suburb of Hermit Park is a mixed-use suburb with residential, commercial and industrial areas. It also contains public service offices, and residents enjoy its proximity to the Townsville CBD, which is less than 10 minutes away.
There is a private hospital in the suburb, the Mater Women’s and Children’s Hospital. There is also a local library supported by the Family History Association of North Queensland. Hermit Park State School and Saint Margaret Mary’s College are established in this suburb as well. Rising Sun and Hermit Park Shopping Centre are the two shopping hubs in Hermit Park.
While rental houses can generate returns of 5.7% on average, prices are declining consistently.