If you compare the increase in value of investment property in Hermit Park, 4812 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this QLD suburb was 14.19%.
A 3.28% growth in median value for property investors in Hermit Park,4812 puts this suburb at number 759th in terms of best performing suburbs in QLD
LACK OF BUYER INTEREST may well be the reason that Hermit Park is offering property investors an average of -4.90. This rate of discount on properties puts Suburb at number 59th in terms of most discounted suburbs in QLD
A $360 per week rent on the median house gives suburb investors a gross yield of circa 5.29%, without taking into account capital value appreciation, which has been averaging out at -0.30%.
Investment property in Hermit Park has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 41.20%
Across a shorter period, Hermit Park, 4812 has seen a median price increase of 3.82% over the last quarter.
Hermit Park, 4812 is offering QLD ‘s 12th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this QLD.
On average over the past year, suburb has had 4.17 sales per month, which equates to 50 per year.
Advertised rents are around the $270 mark per week – giving a return of 7.95% based on the median price in Suburb
Information supplied by:
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.