Over the last year, property investments in Rocherlea, 7248 have given investors a capital gain of 10.74%. This compares favourably with the 7.76% for TAS as a whole.
Rocherlea,7248 was ranked 352 in Australia by increase in median property value over the quarter.
Often selling an investment property can take time, and in Rocherlea the average time real estate has been on the market is 38.5385 days.
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Strong yield and affordable homes
Median house price: $155,000
Three-year growth: 5.1%
Rental yield: 7.5%
A 10-minute drive up from Launceston brings you to the suburb of Rocherlea. It is bordered by the suburbs of Mayfield and Newnham, and is only a few minutes from the University of Tasmania’s Inveresk campus by car.
Other nearby educational institutions include the Australian Maritime College and the TasTAFE campus in Newnham – thus, Rocherlea can be a great option for students and working professionals.
Rocherlea has been experiencing consistent growth in recent years, with growth reaching nearly 30% in the five-year period from November 2013-2018. Nonetheless, the median price for houses remains very low at just a little over $150,000. The market also offers remarkable rental returns of 7.5% on average – providing both growth potential and cash flow. The average rent is affordable at $225 per week – favourable for tenants on a budget.