If you compare the increase in value of investment property in Sheffield, 7306 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 17.20%.
Taking the average capital gain, or increase in median house value, Sheffield,7306 has racked up an average of 17.20% over the period. This ranks it number 267th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Sheffield is giving property investors an average Vendor Discount of around -4.77%. This puts suburb at number 74th in TAS when ranking the most discounted suburbs.
At number 1784 in a list of fastest selling suburbs, Sheffield is just in the top half of suburbs in Australia with an average of days on market 76.5417 for properties listed there.
Renters in Suburb are facing rents around $14534 per annum or $279.5 every week.
Information supplied by:
Median house price: $248,000
Three-year growth: -11.0%
Rental yield: 5.2%
Situated on the foothills of Mount Roland, Sheffield is the rural centre for the mountain region. It is known for the murals decorating the suburb that illustrate the history of the area, and is regarded as the Apple Isle’s outdoor gallery.
This is a massive change from Sheffield’s background as an industrial hub. An annual mural-painting festival is now held in Mural Park, while indoor treasures are found in Mural House. Residents can enjoy rowing at Lake Barrington and picnicking at Devils Gate Dam.
Sheffield is a volatile market, with prices rising and falling over recent years. Prices declined by 11% in 2015, but rose by 7.8% in the year to August 2018 before slipping again in the three months to August. The market, however, is very low priced, with the median house value being lower than $250,000.