At number 522th in the list of Australian suburbs ordered by increase in median house value over the last year, Rose Bay, 7015 is in the top 20% with a property value increase of 9.40% recorded in median house prices.
Rose Bay,7015 has offered an average of 9.40% return per annum in house price rises to property investors over the last three years.
With the median price for a house in Rose Bay being $697500 and the advertised rent reaching $550 the gross rental yield for property investors calculates out to be 4.10%
Advertised rents are around the $372.5 mark per week – giving a return of 6.07% based on the median price in Suburb
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Suburb with river views follows Hobart’s rising star
Median house price: $520,000
Three-year growth: 18.18%
Rental yield: 4.80%
Situated in the greater Hobart region, Rose Bay is one of the beneficiaries of Hobart’s quick rise through the ranks in Australia’s property market.
House prices have skyrocketed by almost 16% over the past 12 months, bringing the median house value to $520,000. This growth looks set to continue based on the quarterly growth of 5.7% recorded in March 2017. Based on its consistent positive performance and the high rental yield of 4.8%, this is a good market for investors to get into.
However, buyers may need to move quickly as houses spend an average of just 17 days on the market before being snatched up. The average vacancy rate has fallen from 0.88% to an even tighter 0.66% over the previous year, indicating that competition for available homes is hot.