Property investors who have had real estate in Old Beach, 7017 should be relatively pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 8.82%
Comparing Old Beach,7017 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Old Beach is $425000, with sellers offering an average of -5.71% off the asking price.
Advertised rents are around the $430 mark per week – giving a return of 5.26% based on the median price in Suburb
Property value increases in Old Beach have tracked just higher than the TAS average of 10.36% over the last 12 months.
Vendor discounting in Old Beach is giving property investors an average Vendor Discount of around -2.50%. This puts suburb at number 44th in TAS when ranking the most discounted suburbs.
Residents and property investors in Old Beach have been waiting around 28.71 days to sell a property.
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Information supplied by:
June 2018
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Housing supply in the suburb of Old Beach nosedives by nearly 50% in the 12 months leading up to March 2018Full summary
Housing stock plummets in Hobart suburb
Postcode: 7017
Median house price: $400,000
Stock on market: -59.6%
12-month growth: 3.9%
Housing supply in the suburb of Old Beach nosedives by nearly 50% in the 12 months leading up to March 2018.
The number of houses on the market went from 51 in March 2017 to just 18 one year later. As a suburb of Hobart, Old Beach seems to be following the city’s overall trend of tightening supply – a strategy that has been paying off given the consistent pattern of growth reported since 2013. Even then, houses remain affordable at a median price of $400,000.
Houses stay on the market for less than 60 days; although this doesn’t indicated an incredibly strong level of demand, it is relatively balanced. In addition, rental returns for investors are high at 5.1%.
Old Beach is situated next to the Derwent River. It is also just 7km from the Baskerville Raceway.
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