Investment property in Bicheno has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 4.23%
While Bicheno,7215 ranked number 161th in TAS for increase in median house value (annualised) increase, it is ranked 18th over the last 5 years.
Property investors looking for a bargain in Bicheno should be aiming for at least -5.93% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 2.92 sales per month, which equates to 35 per year.
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.Full summary
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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.Close