TAS has seen average median house prices change by 11.42% which means that Mornington, 7018 has done well for property investors by showing a capital gain of 21.31% over the last year
Taking the average capital gain, or increase in median house value, Mornington,7018 has racked up an average of 21.31% over the period. This ranks it number 742th in the whole country for real estate investors looking at median house price increases.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Mornington, 7018. Typically our figures indicate that -1.49% is being offered, which puts this TAS suburb at 3642th most discounted overall in Australia.
Using the current median advertised rental of $370 and the average annual increase in value of a median property of 4.87%, investors should hope to achieve an overall return of 5.20%
Just 7km from Hobart but set in a landscape of mountains and rivers, Mornington is growing in popularity as buyers realise the value they can get for their money.Full summary
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Just 7km from Hobart but set in a landscape of mountains and rivers, Mornington is growing in popularity as buyers realise the value they can get for their money.Close
With a low house median of $283,000, Mornington is an affordable suburb that returns an excellent yield of 5.8% – virtually the same rate of return as neighbouring suburbs Bellerive and Howrah, which have median house values in the mid-$400,000s and $368,000 respectively.
This is likely to see house-hunters searching out cheaper dwellings and rents in nearby suburbs, and Mornington ts the bill for both historic capital growth and yield.
A vacancy rate of 1.15% lands Mornington in fth place in Tasmania for lowest vacancy rates.
The suburb appeals to families, and three-bedroom houses are in highest demand.
Newer homes on eastern streets are at the higher end of the median, while high-set houses have mountain views.