Investment property in Charters Towers City has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.06%
While Charters Towers City,4820 ranked number 866th in QLD for increase in median house value (annualised) increase, it is ranked 845th over the last 5 years.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.18% offered to property buyers. Sellers in Charters Towers City itself are offering an average vendor discount of -12.61% to real estate investors.
Often selling an investment property can take time, and in Charters Towers City the average time real estate has been on the market is 150.538 days.
Renters in Suburb are facing rents around $11960 per annum or $230 every week.
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.