With a capital gain of 21.30% for the last 12 months, Hermit Park, 4812 has performed for property investments than its average annual -0.84% property growth over the last 5 years.
While Hermit Park,4812 ranked number 190th in QLD for increase in median house value (annualised) increase, it is ranked 777th over the last 5 years.
Sellers are offering property buyers an average discount of -8.20% to buyers in Hermit Park at the moment, which is less than average for the rest of QLD.
Renters in Suburb are facing rents around $15860 per annum or $305 every week.
With a capital gain of 6.00% for the last 12 months, Hermit Park, 4812 has performed for property investments than its average annual -5.05% property growth over the last 5 years.
The five-year average increase in median property values for Hermit Park,4812 has given property investors a potential capital gain of -19.70% across each of those five years.
Property buyers and investors in Hermit Park 4812 should be seeing an average reduction in asking price of around -9.12% . This means that Hermit Park is holding prices well when compared to other suburbs in QLD.
With the median price for a house in Hermit Park being $132500 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 9.81%
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Hermit Park, QLD – House prices falling in Townsville
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.