How a Hobart purchase set this investor up for a successful portfolio
A keen property investor has spoken out about how his purchase in the Hobart market kicked off the start of a successful portfolio. ...
PARADISE POINT, 4216 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in QLD have risen as a whole, pulling PARADISE POINT, 4216 values up and netting property investors a capital gain of 8.66% for the past year.
Investors saw the median home price rise to $1,073,000.
Profits due to an upward trend in home prices in the suburb averaged 3.4% per annum over a 3-year period.
PARADISE POINT now ranks at the 85th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in PARADISE POINT are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $570 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In PARADISE POINT, homes and units usually stay on listing for an average of 103.3 days.
In 2016, 118 properties were sold in PARADISE POINT during the past year, making it the 839th most active market in QLD based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,073,000 | $834,000 |
| GROWTH REPORT | ||
| Median Quarterly | 7.3% | 3.28% |
| Median 12 month | 8.66% | 11.95% |
| Median 3 years | 10.19% | 18.97% |
| Median 5 years | 20.56% | 27.23% |
| 10 years average annual | 0.95% | 4.87% |
| Weekly media advert. rent | $570 | $450 |
| Time on Market | 103.3 days | 138.4 days |
| Gross Rental Yield Percent | 2.76% | 2.81% |
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