Property investors who have had real estate in Hermit Park, 4812 should be unhappy with this QLD suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -16.36%
Taking the average capital gain, or increase in median house value, Hermit Park,4812 has racked up an average of -16.36% over the period. This ranks it number 3933th in the whole country for real estate investors looking at median house price increases.
In the last year 22 properties changed hands in Hermit Park, which puts it as the 652th most active market in QLD when comparing the number of sales per suburb.
Situated 1109.58km from the CBD, Hermit Park is one of Townsville (C) localities in the postcode 4812.
With a capital gain of -23.44% for the last 12 months, Hermit Park, 4812 has performed for property investments than its average annual -4.79% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Hermit Park comes in at number 315th in QLD.
In the last year 16 properties changed hands in Hermit Park, which puts it as the 257th most active market in QLD when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $13000 per annum or $250 every week.
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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.