Property value increases in Old Beach have tracked close to the TAS average of 9.08% over the last 12 months.
Old Beach,7017 has offered an average of 6.18% return per annum in house price rises to property investors over the last three years.
With the median price for a house in Old Beach being $472500 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 4.95%
TAS has seen average median house prices change by 6.31% which means that Old Beach, 7017 has done well for property investors by showing a capital gain of -3.98% over the last year
Residents and property investors in Old Beach have been waiting around 28.4167 days to sell a property.
Old Beach, 7017’s gross rental yield is 5.72%
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Information supplied by:
June 2018
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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.