5 key changes sought to drive WA property market
Politicians are being urged to make real estate a key focus of elections, in a bid to create a fairer and more prosperous market. ...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
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 $400,000.
The upward trend in home prices in PERTH, 7300 averaged 13.29% per annum over a 3-year period.
Average weekly rents on listings have reached the $370 mark, reflecting a 4.81% increase in returns based on the current median price in PERTH.
An average of 5.42 real estate transactions take place per month in PERTH which translates to 65 per annum.
65 properties were sold in PERTH in 2016, making it the 24th most active market in TAS based on total real estate transactions.
PERTH, 7300 places 108th in Australia based on median property value growth during the quarter.
If you fancy living in a small town with lovely Georgian and Victorian houses and manicured lawns, then the sleepy town of Perth in Tasmania may just be the right destination for your home-buying endeavor. Located south of the famed city of Launceston, Perth was registered as a suburb in the 1800s, bringing forth a period of modest growth to the humble town. Today, Perth’s heritage buildings still remain, but new infrastructure could pave the way for the introduction of new housing estates and potentially a lifestyle hub in the city.
The total population of Perth is 2,237, with a median age of 37. Perth has a diverse community consisting of Australia-born residents and migrants from Germany, Netherlands, Philippines, Scotland, New Zealand, Estonia and Japan.
Real estate overview
Latest data show that Tasmania as a whole is benefiting from surging interest among vacationers, both here and from overseas. The migration rate has also increased by 9 per cent, with deep-pocketed buyers snatching up heritage homes in coastal areas and small historic towns. Some are eyeing towns such as Perth for their laid-back lifestyle and are opting to sell their homes in bigger cities to settle in Darwin for a fraction of the price.
It’s only in Perth, Tasmania where you can find well-maintained properties for sale in Federation-style architecture selling between $300,000 and $400,000. Off-the-plan housing and land packages are also on offer for buyers.
Tourism
Perth has a number of places for tourists and residents to fill their day. The town has no less than 40 heritage-listed buildings as well as historic drinking dens and hotels that were established back in the 1800s. The Perth Baptist Tabernacle is a notable structure in the area frequented by tourists, and so is Gibbet Hill, a site where a notorious criminal was executed in the 1800s.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $400,000 | $270,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.82% | -1.64% |
| Median 12 month | 2.56% | -1.64% |
| Median 3 years | 39.86% | 0.75% |
| Median 5 years | 53.85% | 19.34% |
| 10 years average annual | 4.24% | 4.49% |
| Weekly media advert. rent | $370 | $325 |
| Time on Market | 47.5 days | 44.9 days |
| Gross Rental Yield Percent | 4.81% | 6.26% |
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