Giving property investors a a solid capital gain of 9.39% for the last year, Warrane, 7018 is the 694th highest performer in Australia in this respect.
Warrane,7018 was ranked 1000 in Australia by increase in median property value over the quarter.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
If you compare the increase in value of investment property in Warrane, 7018 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 13.44%.
Residents and property investors in Warrane have been waiting around 16.4545 days to sell a property.
Advertised rents are around the $380 mark per week – giving a return of 5.44% based on the median price in Suburb
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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.