With a capital gain of 23.13% for the last 12 months, Queenstown, 7467 has performed for property investments than its average annual 3.36% property growth over the last 5 years.
While Queenstown,7467 ranked number 36th in TAS for increase in median house value (annualised) increase, it is ranked 49th over the last 5 years.
At number 3rd of TAS’s most discounted properties, Queenstown is in the bottom 10% of the state/territory when listing in order of most discounted to least.
In the last year 77 properties changed hands in Queenstown, which puts it as the 24th most active market in TAS when comparing the number of sales per suburb.
Queenstown, 7467’s gross rental yield is 9.63%
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Queenstown is located 165km northwest of Hobart on Tasmania’s west coast, on the western slopes of Mount Oliver. It’s a relatively small community, with a population estimated at 5,119 in 2009. It’s got a rich mining history, having been the centre of the Mount Lyell mining district in the early twentieth century.
Its present industry still features mining, but is not reliant upon it – a number of mines still operate in the area, with exploration for further economic mineral deposits currently taking place. The town is also a popular tourism spot and is the terminus of the West Coast Wilderness Railway; additionally, it is home to a growing arts community, and hosted an arts and heritage festival in 2010.
Amenity-wise, the town is self-sufficient, with shops, cafes and restaurants centred around Orr Street and Sticht Street. The town also offers access to the Cradle Lake Mount St Clair National Park, the Franklin-Gordon Wild Rivers National Park, and Macquarie Harbour. Access is from the rest of the island is by car or daily bus to Hobart.
Investors may be interested in the scope for cash flow positive properties at very affordable prices. The median house price here is among the lowest in the country, while rental yields are approaching double digits.