Property investments in SANDY BAY fare well against the rest of the country last year, registering a median home price increase of 7.47%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains SANDY BAY, 7005 saw average growth in the long term.
Real estate investors could earn a rental income of $592.5 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 48.4 days.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $888,000.
SANDY BAY ranks 124th on the list of best yielding suburbs for rental properties in TAS, posting a 3.47% return.
Profits due to an upward trend in home prices in SANDY BAY, 7005 averaged 13.26% per annum over a 3-year period.
Average weekly rents on listings have reached the $400 mark, reflecting a 4.13% increase in returns based on the current median price in SANDY BAY.
An average of 7.75 real estate transactions take place per month in SANDY BAY which translates to 93 per annum.
93 properties were sold in SANDY BAY during the past year, making it the 1st most active market in TAS based on total real estate transactions.
SANDY BAY, 7005 places 43rd in Australia based on median property value growth during the quarter.
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