TAS has seen average median house prices change by 10.33% which means that Queenstown, 7467 has done well for property investors by showing a capital gain of 11.54% over the last year
Over the longer term, Queenstown has seen property prices show investors a 8.21% return over the last 3 years. This is an improvement over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Queenstown, 7467. Typically our figures indicate that -12.11% is being offered, which puts this TAS suburb at 120th most discounted overall in Australia.
A $155 per week rent on the median house gives suburb investors a gross yield of circa 11.12%, without taking into account capital value appreciation, which has been averaging out at 0.05%.
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.Full summary
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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.