GLENORCHY, 7010 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in TAS have risen as a whole, pulling GLENORCHY, 7010 values up and netting property investors a capital gain of 18.25% for the past year.
Investors saw the median home price rise to $337,000.
Profits due to an upward trend in home prices in the suburb averaged 12.52% per annum over a 3-year period.
GLENORCHY now ranks at the 55th 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 GLENORCHY are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $370 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 GLENORCHY, homes and units usually stay on listing for an average of 22.5 days.
In 2016, 179 properties were sold in GLENORCHY during the past year, making it the 130th most active market in TAS based on total real estate transactions.
GLENORCHY ranks 42nd in TAS when it comes to estimated capital gains experienced by property investors over the past three years.
GLENORCHY, 7010 has a capital gain of 11.36% for the past year, which is higher than average compared to its 21.89% growth within a five-year period.
With the median home price in GLENORCHY sitting at $245,000, and the average rent at $300, property owners could potentially earn a 6.37% increase in gross rental yield.
Property investors have seen a 4.26% gain in GLENORCHY based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on GLENORCHY, 7010 can rest assured about this TAS suburb's performance. The suburb saw median home prices rise by 11.36%.
A survey of average capital gains or median home price increase in suburbs across the country shows that GLENORCHY, 7010 obtained a 2.75% growth over a ten-year period. It ranks 1041st on our list of suburbs that property investors should look into.