Property value increases in Sheffield have tracked close to the TAS average of 9.78% over the last 12 months.
A 6.42% growth in median value for property investors in Sheffield,7306 puts this suburb at number 181th in terms of best performing suburbs in TAS
LACK OF BUYER INTEREST may well be the reason that Sheffield is offering property investors an average of -5.38. This rate of discount on properties puts Suburb at number 66th in terms of most discounted suburbs in TAS
With the median price for a house in Sheffield being $290000 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 5.02%
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.