At number 2229th in the list of Australian suburbs ordered by increase in median house value over the last year, Miandetta, 7310 is in the BOTTOM 50% with a property value increase of -0.41% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Miandetta has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -4.82% to buyers in Miandetta at the moment, which is less than average for the rest of TAS.
Using the current median advertised rental of $325 and the average annual increase in value of a median property of 1.61%, investors should hope to achieve an overall return of 5.59%
Information supplied by:
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.