Wynyard has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 10.00% to date .
If we look at median property appreciation over just the last three months, Wynyard has given property investors a paper return of 1.20%. This puts Suburb as 116 on a list of fastest fasting appreciating suburbs in TAS
Property investors looking for a bargain in Wynyard should be aiming for at least -6.66% off the asking price, which is the average vendor discount being achieved at the moment.
At number 2435 in a list of fastest selling suburbs, Wynyard is in the bottom 40% of suburbs in Australia with an average of days on market 86.54 for properties listed there.
A $280 per week rent on the median house gives suburb investors a gross yield of circa 5.75%, without taking into account capital value appreciation, which has been averaging out at 2.86%.
Wynyard, 7325 ranked 50th in TAS when comparing growth in median property values or capital gain over the last 12 months. Wynyard is one of 606 in our list for TAS
Wynyard,7325 was ranked 600 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -5.53% to buyers in Wynyard at the moment, which is less than average for the rest of TAS.
On average over the past year, suburb has had 2.08 sales per month, which equates to 25 per year.
With the median price for a house in Wynyard being $235000 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.75%
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.Full summary
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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.