At number 1782th in the list of Australian suburbs ordered by increase in median house value over the last year, Queenstown, 7467 is in the top half with a property value increase of 2.07% recorded in median house prices.
The five-year average increase in median property values for Queenstown,7467 has given property investors a potential capital gain of 11.28% across each of those five years.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.54% offered to property buyers. Sellers in Queenstown itself are offering an average vendor discount of -13.74% to real estate investors.
Information supplied by:
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.