If you compare the increase in value of investment property in Devonport, 7310 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 6.15%.
A 21.19% growth in median value for property investors in Devonport,7310 puts this suburb at number 84th in terms of best performing suburbs in TAS
The most recent median price for Devonport is $276000, with sellers offering an average of -4.70% off the asking price.
A $300 per week rent on the median house gives suburb investors a gross yield of circa 5.65%, without taking into account capital value appreciation, which has been averaging out at 1.77%.
Devonport has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 8.32% to date .
The five-year average increase in median property values for Devonport,7310 has given property investors a potential capital gain of 5.32% across each of those five years.
Sellers are offering property buyers an average discount of -5.31% to buyers in Devonport at the moment, which is less than average for the rest of TAS.
Devonport, 7310’s gross rental yield is 4.94%
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Devonport, TAS – Housing supply gets a big boost
Median house price: $272,000
Stock on market: 32.1%
12-month growth: 4.6%
Situated within the third-largest city on the Apple Isle, Devonport boasts a wealth of local produce and beautiful coastal views of the Bass Strait, making it popular with residents and visitors alike. Buyers have plenty of stock to choose from, as the supply jumped by 32% in the last 12 months.
Cradle Mountain, one of Tasmania’s most spectacular natural attractions, is a stone’s throw away, and there are several walking trails. There is abundant fun to be had by the water, given Devonport’s proximity to the beach, and there is no shortage of kayakers, fishers and sailors in the area.
You’ll never go hungry in Devonport either, as there’s a smorgasbord of restaurants in town, serving everything from comfort food to contemporary delights.