Bicheno, 7215 ranked 58th in TAS when comparing growth in median property values or capital gain over the last 12 months. Bicheno is one of 606 in our list for TAS
Taking the average capital gain, or increase in median house value, Bicheno,7215 has racked up an average of 16.53% over the period. This ranks it number 514th in the whole country for real estate investors looking at median house price increases.
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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.