Legana

LEGANA, 7277 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 LEGANA, 7277 values up and netting property investors a capital gain of 37.1% for the past year.

Investors saw the median home price rise to $637,500.

Profits due to an upward trend in home prices in the suburb averaged 17.87% per annum over a 3-year period.

LEGANA now ranks at the 41st 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 LEGANA 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 $470 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 LEGANA, homes and units usually stay on listing for an average of 29.0 days.

In 2016, 68 properties were sold in LEGANA during the past year, making it the 22nd most active market in TAS based on total real estate transactions.