Mornington is an average performer in TAS when comparing median price capital growth over the last year. Mornington gave property investors a average capital gain figure when compared to the rest of the state, with 11.30%.
The five-year average increase in median property values for Mornington,7018 has given property investors a potential capital gain of 28.60% across each of those five years.
Property investors looking for a bargain in Mornington should be aiming for at least -2.76% off the asking price, which is the average vendor discount being achieved at the moment.
A $370 per week rent on the median house gives suburb investors a gross yield of circa 5.74%, without taking into account capital value appreciation, which has been averaging out at 3.76%.
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.