A 15.65% increase in median property prices in GEILSTON BAY, 7015 has allowed this suburb to join the ranks of best performing suburbs in TAS, settling at number 51st.
A steady increase in median property prices over a five-year period in the suburb translates to a 29.18% capital gain.
It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $425,000
The augmented property values in the suburb are trailing above the territorial average of 7.93% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $400.
Home owners selling their properties and realtors in GEILSTON BAY usually have to wait an average of 18.9 days days before their assets are lifted off the market.
The TAS suburb ranks 82nd on the list of best yielding suburbs for rental properties in TAS, posting a 4.89% return.
It also places places 111th in Australia based on median property value growth during the quarter.
With the median home price in GEILSTON BAY sitting at $315,000, and the average rent at $345, property owners could potentially earn a 5.7% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in GEILSTON BAY are high, as opposed to average gains per annum over the past five years.
GEILSTON BAY, 7015 in TAS belongs to the local government area of Clarence.
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