Investment property in Charters Towers City 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 -30.71%
The five-year average increase in median property values for Charters Towers City,4820 has given property investors a potential capital gain of -48.13% across each of those five years.
Property investors should expect to get $260 weekly from the median priced house in this suburb.
Information supplied by:
High yields with low value
Median unit price: $110,000
Three-year growth: -26.7%
Rental yield: 11.8%
Once a gold-rush site in the 1870s, Charters Towers City has developed into one of the most stunning inland cities in the Sunshine State.
While the house market offers a sky-high average rental return of 11.8%, the suburb has a struggling record when it comes to growth, with values falling consistently since 2014.
The suburb was the site of one of the first regional stock exchanges in the country, and it is rich in striking architecture that calls back to its history. Such buildings line Mosman Street and Gill Street, and some have been repurposed for new commercial use. For instance, the World Theatre was originally the Australian Bank of Commerce – today, it contains a cinema, theatre and gift shop. There are also several museums in the area, including a mining and historical museum.