Warrane, 7018 ranked 72th in TAS when comparing growth in median property values or capital gain over the last 12 months. Warrane is one of 606 in our list for TAS
When looking at the potential capital gains offered to property investors over the last 3 years, Warrane comes in at number 48th in TAS.
LACK OF BUYER INTEREST may well be the reason that Warrane is offering property investors an average of -5.50. This rate of discount on properties puts Suburb at number 147th in terms of most discounted suburbs in TAS
Advertised rents are around the $350 mark per week – giving a return of 6.07% based on the median price in Suburb
Giving property investors a an average capital gain of 2.14% for the last year, Warrane, 7018 is the 858th highest performer in Australia in this respect.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.04% offered to property buyers. Sellers in Warrane itself are offering an average vendor discount of -6.64% to real estate investors.
Warrane, 7018’s gross rental yield is 6.36%
Warrane is just 5km east of the Hobart CBD, across the Derwent River. It’s a former Housing Commission suburb which has had something of a rocky reputation in the past: however, it’s becoming increasingly popular for younger buyers looking for affordable housing and property investors. Full summary
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Warrane is just 5km east of the Hobart CBD, across the Derwent River. It’s a former Housing Commission suburb which has had something of a rocky reputation in the past: however, it’s becoming increasingly popular for younger buyers looking for affordable housing and property investors.
Matthew Carn, director of Raine & Horne Eastern Shore, reckons the suburb attracts three types of investor: small-scale developers, renovators and those looking for an affordable investment.
“One of the strengths of the suburb is the size of the blocks its houses are built upon: these are typically around 800 square metres in size,” says Carn. “What many investors are doing is buying a property, chopping the block in two and building a unit on the back of the block.”
The predominance of older-style weatherboard houses also means much of the area is ripe for renovation, he adds.
While the area is largely residential, neighbouring Rosny Park has “all the services you could need”, according to Carn: it’s also well-located on the Tasman Highway, with commutes to the CBD taking less than 10 minutes. As the suburb is quite long and narrow, it’s difficult to stray too far from the highway, adds Carn. Instead, he recommends seeking out properties that are as close to the amenities and employment opportunities of Rosny Park as possible.