Property value increases in Rose Bay have tracked lower than the TAS average of 5.76% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Rose Bay comes in at number 32th in TAS.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 6.99%, investors should hope to achieve an overall return of 4.24%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Rose Bay has fallen somewhat when compared to the 5 year average annual rate.
With the median price for a house in Rose Bay being $380500 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 6.15%
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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.