Giving property investors a a stable capital gain of 6.15% for the last year, Chigwell, 7011 is the 1068th highest performer in Australia in this respect.
While Chigwell,7011 ranked number 58th in TAS for increase in median house value (annualised) increase, it is ranked 18th over the last 5 years.
On average over the past year, suburb has had 3.58 sales per month, which equates to 43 per year.
Chigwell is 33th on a list of best yielding suburbs for rents in TAS with a 5.73% return
Information supplied by:
Median house price: $206,000
Stock on market: 61.5%
12-month growth: -0.72%
Despite a general state-wide trend of low supply in Tasmania, the suburb of Chigwell recorded a significant increase in stock on market.
Real Estate Investar noted that the number of houses in the area increased from 10 to 18 over a 12-month period. This may have been a response to the needs of the house market in Hobart as demand increases with property affordability and a strengthening local economy. By contrast, unit supply was consistent.
CoreLogic points out that the new housing stock has caused prices in Chigwell to drop slightly, pulling the median house price to $206,000. Nonetheless, this may turn out to be a benefit for investors – the low price is coupled with a remarkably high yield of nearly 8%, which should allow them to turn a profit. Moreover, Chigwell is just a 20-minute drive from the Hobart CBD. As a result, the average vacancy rate is a very low 1.25%, indicating that demand is strong