Investment property in Lenah Valley 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 11.97%
Comparing Lenah Valley,7008 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
In the last year 74 properties changed hands in Lenah Valley, which puts it as the 32th most active market in TAS when comparing the number of sales per suburb.
A $530 per week rent on the median house gives suburb investors a gross yield of circa 3.94%, without taking into account capital value appreciation, which has been averaging out at 6.08%.
With a capital gain of 9.23% for the last 12 months, Lenah Valley, 7008 has performed for property investments than its average annual 5.02% property growth over the last 5 years.
While Lenah Valley,7008 ranked number 43th in TAS for increase in median house value (annualised) increase, it is ranked 10th over the last 5 years.
The TAS suburb of Lenah Valley, 7008 is in the Hobart (C) local government area.
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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.