Victorian land sales strong despite restrictions
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EAST DEVONPORT, 7310 ranks 489th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 13.91% for property investors.
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 $262,000.
The upward trend in home prices in EAST DEVONPORT, 7310 averaged 10.55% per annum over a 3-year period.
Average weekly rents on listings have reached the $275 mark, reflecting a 5.46% increase in returns based on the current median price in EAST DEVONPORT.
An average of 6.58 real estate transactions take place per month in EAST DEVONPORT which translates to 79 per annum.
79 properties were sold in EAST DEVONPORT in 2016, making it the 12th most active market in TAS based on total real estate transactions.
EAST DEVONPORT, 7310 places 36th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $262,000 | $293,500 |
| GROWTH REPORT | ||
| Median Quarterly | 4.8% | 21.03% |
| Median 12 month | 13.91% | 33.41% |
| Median 3 years | 31.66% | N/A |
| Median 5 years | 38.62% | 24.89% |
| 10 years average annual | 2.49% | 13.23% |
| Weekly media advert. rent | $275 | $210 |
| Time on Market | 72.2 days | 0.0 days |
| Gross Rental Yield Percent | 5.46% | 3.72% |
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