TAS has seen average median house prices change by 10.86% which means that Old Beach, 7017 has done well for property investors by showing a capital gain of 13.00% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Old Beach comes in at number 74th in TAS.
The most recent median price for Old Beach is $452000, with sellers offering an average of -2.35% off the asking price.
Advertised rents are around the $420 mark per week – giving a return of 4.83% based on the median price in Suburb
Investment property in Old Beach has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 13.01%
Over the longer term, Old Beach has seen property prices show investors a 10.00% return over the last 3 years. This is an improvement over the last 12 months
Property investors looking for a bargain in Old Beach should be aiming for at least 0.00% off the asking price, which is the average vendor discount being achieved at the moment.
Old Beach, 7017’s gross rental yield is 5.36%
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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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