PENGUIN, 7316 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 PENGUIN, 7316 values up and netting property investors a capital gain of 2.75% for the past year.
Investors saw the median home price rise to $280,000.
Profits due to an upward trend in home prices in the suburb averaged 1.75% per annum over a 3-year period.
PENGUIN now ranks at the 68th 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 PENGUIN are high, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $277.5 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 PENGUIN, homes and units usually stay on listing for an average of 118.6 days.
In 2016, 93 properties were sold in PENGUIN during the past year, making it the 5th most active market in TAS based on total real estate transactions.
PENGUIN ranks 38th in TAS when it comes to estimated capital gains experienced by property investors over the past three years.
PENGUIN, 7316 has a capital gain of 22.35% for the past year, which is higher than average compared to its 13.79% growth within a five-year period.
PENGUIN, 7316 ranks 116th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 22.35% for property investors last year.
With the median home price in PENGUIN sitting at $260,000, and the average rent at $247.5, property owners could potentially earn a 4.95% increase in gross rental yield.
Homeowners and real estate investors betting on PENGUIN, 7316 can rest assured about this TAS suburb's performance. The suburb saw median home prices rise by 22.35%.
A survey of average capital gains or median home price increase in suburbs across the country shows that PENGUIN, 7316 obtained a 5.79% growth over a ten-year period. It ranks 555th on our list of suburbs that property investors should look into.