Giving property investors a a poor capital gain of -20.38% for the last year, Shorewell Park, 7320 is the 4176th highest performer in Australia in this respect.
While Shorewell Park,7320 ranked number 96th in TAS for increase in median house value (annualised) increase, it is ranked 123th over the last 5 years.
Shorewell Park7320 is located in TAS which offers an average discount of -5.49% to property investors. Shorewell Park itself is showing figures that indicate -6.39% is the average achievable by property buyers investing in the suburb.
Information supplied by:
Low rent attracts tenants
Median house price: $162,000
Vacancy rate: 0.5%
Three-year growth: 25.1%
Located in the southwest part of Burnie, the suburb of Shorewell Park was established quite recently in the 1970s. It has been well occupied since then, with the average vacancy rate falling from 1.5% to a very tight 0.5% in the period of February 2017-2018.
The suburb took a significant hit in the February 2018 quarter when house prices plummeted by 25.3%. Such properties have become very affordable at a median value of only $162,000, and the weekly rent rate of $210 is one of the lowest in Tasmania. This could be bringing in tenants.
Shorewell Park serves residents’ needs through the Hilltop Shopping Centre, which contains a supermarket and pharmacy. The Burnie Community House cultivates a market garden, and offers training and assistance to those in need.