Blackmans Bay is an average performer in TAS when comparing median price capital growth over the last year. Blackmans Bay gave property investors a average capital gain figure when compared to the rest of the state, with 6.73%.
The five-year average increase in median property values for Blackmans Bay,7052 has given property investors a potential capital gain of 45.12% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Blackmans Bay is offering property investors an average of -5.70. This rate of discount on properties puts Suburb at number 72th in terms of most discounted suburbs in TAS
A $480 per week rent on the median house gives suburb investors a gross yield of circa 4.19%, without taking into account capital value appreciation, which has been averaging out at 5.27%.
If you compare the increase in value of investment property in Blackmans Bay, 7052 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this TAS suburb was -3.29%.
Over the longer term, Blackmans Bay has seen property prices show investors a 10.72% return over the last 3 years. This is worse than over the last 12 months
With the median price for a house in Blackmans Bay being $382000 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 5.58%
Information supplied by:
Supply falls in coast-side suburb
Median unit price: $320,000
Stock on market: -43.30%
12-month growth: 3.23%
The suburb of Blackmans Bay sits south of Hobart by the sea. It offers both investors and residents an excellent deal as Hobart’s property market soars.
The supply of homes has fallen by nearly 50% over the past year, heightening demand and causing the average vacancy rate to slip from 0.87% to 0.63%. In the process, unit prices have risen by 3.2% to $320,000 – a considerable increase compared to three years ago. The average yield for investors is quite high at 5.2%, and apartments can be sold at a low average discount rate of 4.3%.
Blackmans Bay has several primary schools. There’s also a local shopping centre with a supermarket, doctor’s surgery and pharmacy. The beach offers views of the water, and a trail leads to the popular fishing spot Flowerpot Point.