If you compare the increase in value of investment property in Miandetta, 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 9.52%.
When looking at the potential capital gains offered to property investors over the last 3 years, Miandetta comes in at number 118th in TAS.
Vendor discounting in Miandetta is giving property investors an average Vendor Discount of around -3.67%. This puts suburb at number 100th in TAS when ranking the most discounted suburbs.
On average over the past year, suburb has had 2.08 sales per month, which equates to 25 per year.
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Not enough room
Median house price: $279,500
Vacancy rate: 0.4% (from 1.7%)
Three-year growth: 11.8%
It’s going to be a challenge for those who wish to rent in the suburb of Miandetta, as the rental market recorded an astonishingly tight 0.4% vacancy rate over the 12 months to April 2018.
This was a significant fall from last year’s figure, which, at 1.7%, was alreading indicative of the suburb’s rising popularity. The housing market in Miandetta saw prices increase by 7.5% in the same period, while remaining very affordable at a median value of under $280,000. On average, landlords charge rents of $290 per week to reap a yield of 5.4%.
Situated in the city of Devonport on Tasmania’s north coast, Miandetta is primarily a residential area. It is popular with families, being home to Miandetta Primary School, and the suburb is also the site of several reserves.