At number 455th in the list of Australian suburbs ordered by increase in median house value over the last year, Charters Towers City, 4820 is in the top 20% with a property value increase of 14.29% recorded in median house prices.
A -33.33% growth in median value for property investors in Charters Towers City,4820 puts this suburb at number 907th in terms of best performing suburbs in QLD
Sellers are offering property buyers an average discount of -13.38% to buyers in Charters Towers City at the moment, which is less than average for the rest of QLD.
A $240 per week rent on the median house gives suburb investors a gross yield of circa 12.48%, without taking into account capital value appreciation, which has been averaging out at -5.63%.
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.