Warrane, 7018 ranked 38th 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
Taking the average capital gain, or increase in median house value, Warrane,7018 has racked up an average of 20.75% over the period. This ranks it number 375th in the whole country for real estate investors looking at median house price increases.
Warrane7018 is located in TAS which offers an average discount of -6.12% to property investors. Warrane itself is showing figures that indicate -2.12% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $360 and the average annual increase in value of a median property of 3.69%, investors should hope to achieve an overall return of 5.85%
TAS has seen average median house prices change by 8.60% which means that Warrane, 7018 has done well for property investors by showing a capital gain of 6.25% over the last year
Over the longer term, Warrane has seen property prices show investors a 12.29% return over the last 3 years. This is worse than over the last 12 months
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 Warrane, 7018. Typically our figures indicate that -3.40% is being offered, which puts this TAS suburb at 1141th most discounted overall in Australia.
Often selling an investment property can take time, and in Warrane the average time real estate has been on the market is 23.44 days.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 3.40%, investors should hope to achieve an overall return of 5.95%
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.