Homeowners and real estate investors betting on MARGATE, 7054 can rest assured about this TAS suburb's performance. The suburb saw median home prices rise by 14.29%.
A steady increase in median property prices over a five-year period in the suburb translates to a 26.73% capital gain.
Property investors in MARGATE enjoyed capital gains of 14.29% over the last 12 months translating to lower returns compared with its peers in the territory.
The suburb 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 $497,750.
Profits due to an upward trend in home prices there averaged 8.91% per annum over a 3-year period.
Home owners selling their properties and realtors in MARGATE usually have to wait an average of 47.5 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $405 mark, reflecting a 4.23% increase in returns based on the current median price in MARGATE.
MARGATE, 7054 places 140th in Australia based on median property value growth during the quarter.
Property investors in MARGATE enjoyed capital gains of 6.9% over the last 12 months translating to lower returns compared with its peers in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in MARGATE are low, as opposed to average gains per annum over the past five years.
MARGATE posted a 3.33% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
Real estate investors could earn a rental income of $315 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $315 mark, reflecting a 5.28% increase in returns based on the current median price in MARGATE.
MARGATE, 7054 ranks 36th in TAS in terms of median property value increase and capital gains, based on year-to-date figures.
MARGATE ranks 38th on the list of best yielding suburbs for rental properties in TAS, posting a 5.28% return.
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