Investment property in George Town has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 38.36%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in George Town has increased when compared to the 5 year average annual rate.
Vendor discounting in George Town is giving property investors an average Vendor Discount of around -3.05%. This puts suburb at number 50th in TAS when ranking the most discounted suburbs.
In the last year 106 properties changed hands in George Town, which puts it as the 13th most active market in TAS when comparing the number of sales per suburb.
Using the current median advertised rental of $280 and the average annual increase in value of a median property of 5.95%, investors should hope to achieve an overall return of 5.29%
When looking at the potential capital gains offered to property investors over the last 3 years, George Town comes in at number 58th in TAS.
With the median price for a house in George Town being $290000 and the advertised rent reaching $200 the gross rental yield for property investors calculates out to be 3.59%