Shorewell Park is in the TOP 20% in TAS when comparing median price capital growth over the last year. Shorewell Park gave property investors a very good capital gain figure when compared to the rest of the state, with 17.81%.
If we look at median property appreciation over just the last three months, Shorewell Park has given property investors a paper return of 0.76%. This puts Suburb as 122 on a list of fastest fasting appreciating suburbs in TAS
Shorewell Park7320 is located in TAS which offers an average discount of -5.38% to property investors. Shorewell Park itself is showing figures that indicate -2.96% is the average achievable by property buyers investing in the suburb.
With the median price for a house in Shorewell Park being $198500 and the advertised rent reaching $280 the gross rental yield for property investors calculates out to be 7.34%
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.