TAS has seen average median house prices change by 7.30% which means that Lenah Valley, 7008 has done well for property investors by showing a capital gain of -1.22% over the last year
Lenah Valley,7008 has offered an average of -1.22% return per annum in house price rises to property investors over the last three years.
The most recent median price for Lenah Valley is $553650, with sellers offering an average of -7.42% off the asking price.
Residents and property investors in Lenah Valley have been waiting around 35.52 days to sell a property.
Situated 3.98km from the CBD, Lenah Valley is one of Hobart (C) localities in the postcode 7008.
Investment property in Lenah Valley has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.26%
Taking the average capital gain, or increase in median house value, Lenah Valley,7008 has racked up an average of 0.26% over the period. This ranks it number 72th in the whole country for real estate investors looking at median house price increases.
A $360 per week rent on the median house gives suburb investors a gross yield of circa 4.93%, without taking into account capital value appreciation, which has been averaging out at 5.19%.
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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.
There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.
It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.