Giving property investors a a poor capital gain of -11.94% for the last year, Hermit Park, 4812 is the 3574th highest performer in Australia in this respect.
Across a shorter period, Hermit Park, 4812 has seen a median price increase of -12.27% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Hermit Park is offering property investors an average of -7.01. This rate of discount on properties puts Suburb at number 70th in terms of most discounted suburbs in QLD
Advertised rents are around the $350 mark per week – giving a return of 6.17% based on the median price in Suburb
Investment property in Hermit Park has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -18.03%
If we look at median property appreciation over just the last three months, Hermit Park has given property investors a paper return of -16.67%. This puts Suburb as 318 on a list of fastest fasting appreciating suburbs in QLD
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Sudden boost in Townsville suburb
Median unit price: $155,000
Three-year growth: -8.8%
Rental yield: 7.4%
A primarily residential suburb located in Townsville, Hermit Park saw a remarkable boost in unit prices of 33% in the year to February 2019, bringing the median price past $150,000. Nonetheless, this suburb has traditionally been in the red, and the February 2019 showed values dipping back down by 6.1%.
The suburb is home to the private Mater Women’s and Children’s Hospital, as well as a number of medical centres. Hermit Park State School is established here, along with Saint Margaret Mary’s College. Thus, it could be a good spot for families with children who are looking for affordability. There are also two shopping centres in the suburb, namely, Rising Sun and Hermit Park Shopping Centre.