Based on its average 5-year and quarterly capital gains PROSPECT, 7250 saw average growth in the long term.
A survey of average capital gains or median home price increase in suburbs across the country shows that PROSPECT, 7250 obtained a 1.5% growth over a ten-year period. It ranks 3291st on our list of suburbs that property investors should look into.
PROSPECT, 7250 in TAS belongs to the local government area of Launceston.
PROSPECT, 7250 has a capital gain of 8.26% for the past year, which is higher than average compared to its 4.42% growth within a five-year period.
With the median home price in PROSPECT sitting at $295,000, and the average rent at $320, property owners could potentially earn a 5.64% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in PROSPECT are high, as opposed to average gains per annum over the past five years.
A steady increase in median property prices over a five-year period in PROSPECT, 7250 translates to a 7.76% capital gain.
Property investors enjoyed capital gains of 2.46% over the last 12 months in PROSPECT, translating to lower returns compared with its peers in TAS.
PROSPECT, 7250 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 $312,500.
Profits due to an upward trend in home prices in PROSPECT, 7250 averaged 2.59% per annum over a 3-year period.
Home owners selling their properties and realtors in PROSPECT usually have to wait an average of 56.6 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $230 mark, reflecting a 3.83% increase in returns based on the current median price in PROSPECT.
PROSPECT, 7250 places 50th in Australia based on median property value growth during the quarter.