At number 213th in the list of Australian suburbs ordered by increase in median house value over the last year, Queenstown, 7467 is in the top 10% with a property value increase of 21.54% recorded in median house prices.
Across a shorter period, Queenstown, 7467 has seen a median price increase of 0.00% over the last quarter.
Vendor discounting in Queenstown is giving property investors an average Vendor Discount of around -11.44%. This puts suburb at number 5th in TAS when ranking the most discounted suburbs.
On average over the past year, suburb has had 7.00 sales per month, which equates to 84 per year.
With the median price for a house in Queenstown being $79000 and the advertised rent reaching $150 the gross rental yield for property investors calculates out to be 9.87%
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.