At number 2192th in the list of Australian suburbs ordered by increase in median house value over the last year, Bicheno, 7215 is in the BOTTOM 50% with a property value increase of -2.67% recorded in median house prices.
Across a shorter period, Bicheno, 7215 has seen a median price increase of -8.18% over the last quarter.
Sellers are offering property buyers an average discount of -3.83% to buyers in Bicheno at the moment, which is less than average for the rest of TAS.
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Seafood town hooks buyers
Median house price: $341,000
Three-year growth: 45.11%
Rental yield: 4.27%
About half an hour north of Coles Bay, the suburb of Bicheno is a popular holiday town by the water. With the upswing in the Tasmanian property market, Bicheno’s house market has followed suit, recording almost 18% growth in the February 2017 quarter.
Having sustained growth over the past five years, Bicheno certainly looks to have long-term potential especially given the rosy outlook for the state. Hence, buyers will want to consider this suburb while prices and the average rental yield remain reasonable. Sellers have a good chance of profiting on the other end of the market, with houses selling at an average discount rate of just 5.36%.
The tourism boom has resulted in the establishment of shops and restaurants, as Bicheno is known for its seafood. There are also parks and reserves, including the Diamond Island Nature Reserve that gets up close and personal with the local penguins.