A 17.24% increase in median property prices in PARK GROVE, 7320 has allowed this suburb to join the ranks of best performing suburbs in TAS, settling at number 43rd.
A steady increase in median property prices over a five-year period in the suburb translates to a 17.24% capital gain.
It 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 $340,000
The augmented property values in the suburb are trailing above the territorial average of 9.12% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $320.
Home owners selling their properties and realtors in PARK GROVE usually have to wait an average of 55.4 days days before their assets are lifted off the market.
The TAS suburb ranks 84th on the list of best yielding suburbs for rental properties in TAS, posting a 4.89% return.
It also places places 37th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 2.13% over the last 12 months in PARK GROVE, translating to lower returns compared with its peers in TAS.
A survey of average capital gains or median home price increase in suburbs across the country shows that PARK GROVE, 7320 obtained a 0.72% growth over a ten-year period. It ranks 1533rd on our list of suburbs that property investors should look into.
With the median home price in PARK GROVE sitting at $240,000, and the average rent at $260, property owners could potentially earn a 5.63% increase in gross rental yield.
A 2.13% increase in median property prices in PARK GROVE, 7320 has allowed this suburb to join the ranks of best performing suburbs in TAS, settling at number 46th.
PARK GROVE, 7320 in TAS belongs to the local government area of Burnie.