Lenah Valley has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 14.16% to date .
While Lenah Valley,7008 ranked number 99th in TAS for increase in median house value (annualised) increase, it is ranked 21th over the last 5 years.
Property investors looking for a bargain in Lenah Valley should be aiming for at least -3.68% off the asking price, which is the average vendor discount being achieved at the moment.
At number 23 in a list of fastest selling suburbs, Lenah Valley is in the TOP 10% of suburbs in Australia with an average of days on market 21.15 for properties listed there.
Advertised rents are around the $422.5 mark per week – giving a return of 4.23% based on the median price in Suburb
Property value increases in Lenah Valley have tracked just lower than the TAS average of 9.74% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Lenah Valley has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Lenah Valley is offering property investors an average of -4.46. This rate of discount on properties puts Suburb at number 21th in terms of most discounted suburbs in TAS
At number 29 in a list of fastest selling suburbs, Lenah Valley is in the TOP 10% of suburbs in Australia with an average of days on market 24.33 for properties listed there.
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.Full summary
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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.