Suburb Profile Report for Shorewell Park TAS (7320)

Shorewell Park House: Median price $168,498, Annual capital growth 3.88%, Number of sales 30, Weekly median advertised rent $243

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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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:


May 2018

M
O

W
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Low rent attracts tenants

Postcode: 7320

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.

Metrics i HOUSE UNIT
$168,498 N/A
0.90% N/A
-10.49% N/A
3.88% N/A
$243 N/A
30 N/A
7.48% N/A
91.78261 N/A

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Balanced (U)
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Demographics
Total population 2031
Median household income ($/weekly) 613
Median age of persons 33
Median housing loan repayment ($/monthly) 993
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 325 16.0
    25-34 years 208 10.2
    35-44 years 250 12.3
    45-54 years 197 9.7
    55-64 years 194 9.6
    Others 857 42.2
    Age Group
    Census Count Percent(%)
    Not Married 663 53.8
    Registered Married 385 31.2
    Defacto Relationship 185 15.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 1738 94.5
    Papua New Guinea 13 0.7
    Philippines 11 0.6
    United Kingdom 39 2.1
    Other 14 0.8
    Others 25 1.4
    Country of Birth
    Census Count Percent(%)
    Christianity 938 57.2
    Islam 6 0.4
    Australian Aboriginal Traditional Religions 5 0.3
    Other Religious Groups 8 0.5
    No Religion 676 41.2
    Others 7 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $200-$299 72 11.2
    $300-$399 92 14.3
    $400-$599 117 18.1
    $600-$799 116 18.0
    $800-$999 54 8.4
    Others 194 30.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 727 55.1
    Employed, worked full-time 254 19.3
    Employed, worked part-time 167 12.7
    Unemployed, looking for work 128 9.7
    Employed, away from work 43 3.3
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 80 17.2
    Community & personal service workers 66 14.2
    Clerical & administrative workers 58 12.4
    Sales 52 11.2
    Labourers 88 18.9
    Others 122 26.2
    Occupation
    Census Count Percent(%)
    Infants/Primary 211 42.6
    Secondary 112 22.6
    Technical or Further Educational Institution 110 22.2
    University or other Tertiary Institutions 23 4.6
    Other type of educational institution 20 4.0
    Others 19 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1596 89.2
    Semi-detached, row or terrace house, townhouse 169 9.4
    Flat, unit or apartment 25 1.4
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 465 65.7
    Being purchased 133 18.8
    Fully owned 104 14.7
    Other tenure type 6 0.8
    Tenure Type
Census 2011, ABS
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