Old Beach, 7017 ranked 144th in TAS when comparing growth in median property values or capital gain over the last 12 months. Old Beach is one of 606 in our list for TAS
A 21.30% growth in median value for property investors in Old Beach,7017 puts this suburb at number 130th in terms of best performing suburbs in TAS
The most recent median price for Old Beach is $410000, with sellers offering an average of -5.62% off the asking price.
Residents and property investors in Old Beach have been waiting around 35.71 days to sell a property.
The TAS suburb of Old Beach, 7017 is in the Brighton local government area.
If you compare the increase in value of investment property in Old Beach, 7017 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this TAS suburb was 2.56%.
The five-year average increase in median property values for Old Beach,7017 has given property investors a potential capital gain of 8.11% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Old Beach is offering property investors an average of -4.20. This rate of discount on properties puts Suburb at number 46th in terms of most discounted suburbs in TAS
Residents and property investors in Old Beach have been waiting around 23.78 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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