If you compare the increase in value of investment property in Derwent Park, 7009 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this TAS suburb was -3.54%.
At number 66 in a list of fastest selling suburbs, Derwent Park is in the TOP 10% of suburbs in Australia with an average of days on market 35.7 for properties listed there.
Advertised rents are around the $400 mark per week – giving a return of 5.86% based on the median price in Suburb
Information supplied by:
Supply up in limited suburb
Median house price: $364,950
Stock on market: 150%
12-month growth: 7.7%
A small suburb in the Glenorchy district of Hobart, Derwent Park is primarily a light commercial and industrial area 6km from the CBD. The Historic Convict trail winds through here, as does the Brooker Highway.
Heritage sites in this suburb include the nearby Derwent Park Homestead, which was originally constructed in the 1820s. Derwent Park is also surrounded by suburbs like Moonah, Goodwood and Glenorchy, bringing it into close proximity with many amenities like shopping centres and schools. The Prince of Wales Bay on the western shore of the River Derwent is less than 5 minutes away from Derwent Park by car.
Stock on market in this suburb was up by 150%, but with supply being so limited here, this is actually not a significant increase. Thus, houses sell quickly, in an average of just 10 days.