Property investors who have had real estate in Gagebrook, 7030 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 21.02%
If we look at median property appreciation over just the last three months, Gagebrook has given property investors a paper return of 7.45%. This puts Suburb as 33 on a list of fastest fasting appreciating suburbs in TAS
Our latest figures would indicate that property sellers in Gagebrook are currently offering property investors an average price cut of -1.53% below the asking price at the moment.
A $272.5 per week rent on the median house gives suburb investors a gross yield of circa 8.22%, without taking into account capital value appreciation, which has been averaging out at 5.83%.
Gagebrook’s astonishingly low median house price hints at an opportunity to secure strong rental returns for investors willing to take on a reasonable amount of risk.Full summary
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Gagebrook’s astonishingly low median house price hints at an opportunity to secure strong rental returns for investors willing to take on a reasonable amount of risk.
Despite being one of Hobart’s northern most suburbs, Gagebrook in the town of Brighton, is just 15.8km away from the city centre. Its low median house price is all the more remarkable because of its position between two suburbs with considerably higher price averages. Gagebrook’s nearest neighbours are Bridgewater and increasingly exclusive Old Beach.
“Gagebrook might not be for every investor, but there are opportunities to secure very strong rental yields,” says My Property Hunter principal agent Rob Zubin. “Yield of 7.5 to 8% is achievable there and it might balance out a portfolio where an investor has high capital growth properties and is now looking at getting something with good rental returns.”
One of Gagebrook’s more attractive features is its position on the eastern shore of the picturesque Derwent River. The area is well serviced by both bus and rail via the Brighton town centre and the nearby Midland Highway. The Derwent Highway also dissects the Gagebrook suburb.
Zubin points out that the area is not without its problems. Anyone looking to pick up a Gagebrook investment property would need to recognise the impact of high unemployment in the suburb. However, with this risk might come reward.
“If you look at yield in the suburb – it will be very hard to get that in major centres anywhere on the mainland.”
Renting is a popular option in Gagebrook. According to the Australian Bureau of Statistics, 40% of Gagebrook homes are rented, set against a state average of 25%.