$3m-plus suburbs double during the pandemic as allure of luxury property grows
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
Property investors enjoyed capital gains of 5.35% over the last 12 months in OAKDOWNS, translating to lower returns compared with its peers in TAS.
Figures from the previous quarter show that capital gains for real estate buyers in OAKDOWNS are low, as opposed to average gains per annum over the past five years.
The suburb posted a 34.68% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $467.5 based on current median home prices for the suburb.
On average, rents on listings have reached the $467.5 mark, reflecting a 4.57% increase in returns based on the current median price in OAKDOWNS.
OAKDOWNS, 7019 ranks 128th in TAS in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 71st on the list of best yielding suburbs for rental properties in TAS, posting a 4.57% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $532,000 | $397,000 |
| GROWTH REPORT | ||
| Median Quarterly | -2.39% | -0.75% |
| Median 12 month | 5.35% | 7.3% |
| Median 3 years | 34.68% | 26.03% |
| Median 5 years | 51.46% | 46.49% |
| 10 years average annual | 4.15% | 4.12% |
| Weekly media advert. rent | $467.5 | $400 |
| Time on Market | 35.1 days | 31.3 days |
| Gross Rental Yield Percent | 4.57% | 5.24% |
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