If you compare the increase in value of investment property in Wynyard, 7325 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 5.09%.
A 17.45% growth in median value for property investors in Wynyard,7325 puts this suburb at number 146th in terms of best performing suburbs in TAS
Wynyard7325 is located in TAS which offers an average discount of -5.70% to property investors. Wynyard itself is showing figures that indicate -5.25% is the average achievable by property buyers investing in the suburb.
At number 1837 in a list of fastest selling suburbs, Wynyard is just in the bottom half of suburbs in Australia with an average of days on market 77.5132 for properties listed there.
Situated 248.89km from the CBD, Wynyard is one of Waratah/Wynyard (M) localities in the postcode 7325.
Over the last year, property investments in Wynyard, 7325 have given investors a capital gain of 5.18%. This compares averagely with the 2.66% for TAS as a whole.
Across a shorter period, Wynyard, 7325 has seen a median price increase of 6.99% over the last quarter.
At number 5th of TAS’s most discounted properties, Wynyard is in the bottom 30% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 1.67 sales per month, which equates to 20 per year.
Property investors should expect to get $250 weekly from the median priced house in this suburb.
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Unit market blooms in Table Cape home
Median unit price: $245,000
Three-year growth: 15.29%
Rental yield: 5.09%
Drive 20 minutes west out from Burnie, and you’ll enter the rural suburb of Wynyard. It is regarded as a service hub for the surrounding towns, which could account for its strong performance despite being a considerable distance from Hobart.
In the past 12 months leading up to May 2017, Wynyard reported over 8% growth in unit prices; nonetheless, the median price remains very low at under $250,000. Given the high average yield that investors can expect to earn (5.1%) and the suburb’s potential for long-term appeal, we could see investments go up.
Wynyard is a tourist destination known for its beach, which facilitates water activities such as fishing and kayaking. Cafes and shops line the streets, and the Wynyard Foreshore Market is held every couple of weeks.