Suburb Profile Report for Gagebrook TAS (7030)

Gagebrook House: Median price $220,000, Annual capital growth 8.87%, Number of sales 18, Weekly median advertised rent $330

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Mar 2020 as supplied by CoreLogic. Data is reported to the period ending Dec 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Giving property investors a a solid capital gain of 7.32% for the last year, Gagebrook, 7030 is the 697th highest performer in Australia in this respect.

Comparing Gagebrook,7030 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Often selling an investment property can take time, and in Gagebrook the average time real estate has been on the market is 23.4615 days.

Situated 15.96km from the CBD, Gagebrook is one of Brighton (M) localities in the postcode 7030.

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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%.

Metrics i HOUSE UNIT
$220,000 N/A
2.33% N/A
7.32% N/A
8.87% N/A
$330 N/A
18 N/A
7.80% N/A
23.4615384615385 N/A

Source: Monthly data update for Mar 2020 as supplied by CoreLogic. Data is reported to the period ending Dec 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Excellent (H), Good (U)
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Total population 1567
Median household income ($/weekly) 622
Median age of persons 24
Median housing loan repayment ($/monthly) 975
Average household size 2.8
  • Census Count Percent(%)
    0-4 years 184 11.7
    5-14 years 356 22.7
    25-34 years 237 15.1
    35-44 years 184 11.7
    45-54 years 195 12.4
    Others 411 26.2
    Age Group
    Census Count Percent(%)
    Not Married 545 61.2
    Registered Married 200 22.4
    Defacto Relationship 146 16.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 1374 98.1
    Papua New Guinea 13 0.9
    United Kingdom 6 0.4
    Iraq 4 0.3
    Other 3 0.2
    Others 0 0.0
    Country of Birth
    Census Count Percent(%)
    Christianity 732 57.5
    No Religion 526 41.4
    Other Religious Groups 7 0.6
    Buddhism 4 0.3
    Islam 3 0.2
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $200-$299 47 10.4
    $300-$399 72 16.0
    $400-$599 80 17.7
    $600-$799 83 18.4
    $800-$999 43 9.5
    Others 126 27.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 537 58.8
    Employed, worked full-time 172 18.8
    Employed, worked part-time 98 10.7
    Unemployed, looking for work 77 8.4
    Employed, away from work 30 3.3
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 43 14.2
    Community & personal service workers 50 16.6
    Sales 42 13.9
    Machinery operators & drivers 36 11.9
    Labourers 85 28.1
    Others 46 15.2
    Census Count Percent(%)
    Pre-school 13 3.5
    Infants/Primary 188 51.2
    Secondary 111 30.2
    Technical or Further Educational Institution 30 8.2
    Other type of educational institution 15 4.1
    Others 10 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1382 97.1
    Flat, unit or apartment 32 2.2
    Semi-detached, row or terrace house, townhouse 9 0.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 354 73.4
    Being purchased 101 21.0
    Fully owned 24 5.0
    Other tenure type 3 0.6
    Tenure Type
Census 2011, ABS
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