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Park Grove

POSTAL CODE: TAS, 7320
HOUSE

A steady increase in median property prices over a five-year period in the suburb translates to a 5.94% 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 $580,000

The augmented property values in the suburb are trailing behind the territorial average of 5.58% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $480.

Home owners selling their properties and realtors in PARK GROVE usually have to wait an average of 57 days days before their assets are lifted off the market.

The TAS suburb ranks 67th on the list of best yielding suburbs for rental properties in TAS, posting a 4.3% return.

It also places places 100th in Australia based on median property value growth during the quarter.

Surburb overview

Park Grove, with the postcode 7320, is a desirable suburb located approximately 2 kilometres west of Burnie’s central business district in Tasmania. Known for its family-friendly environment, scenic views, and convenient access to amenities, Park Grove offers a comfortable and attractive lifestyle for its residents. The population of Park Grove is around 2,500 residents, comprising a diverse mix of families, professionals, and retirees who appreciate the suburb’s peaceful setting and community-oriented atmosphere.

Park Grove falls under the jurisdiction of the City of Burnie, which ensures well-maintained infrastructure and community services. Public transportation is well-served by Metro Tasmania buses, providing regular services to Burnie’s CBD and surrounding suburbs, making commuting convenient for residents. The suburb is also easily accessible by car, with major roads connecting it to other parts of Burnie and beyond.

Educational facilities in Park Grove include Parklands High School and the nearby Stella Maris Catholic Primary School. For secondary and higher education, students can attend schools such as Burnie High School and Hellyer College. Additionally, the TasTAFE Burnie campus and the Cradle Coast campus of the University of Tasmania are easily accessible, providing further educational opportunities.

For shopping and essential services, Park Grove residents often visit the nearby Burnie CBD, which offers a variety of retail stores, supermarkets, cafes, and dining options. The Upper Burnie Shopping Centre provides additional convenience with local shops and essential services, ensuring residents have easy access to everyday needs.

Park Grove is rich in recreational activities, with numerous parks and green spaces enhancing the suburb’s appeal. The nearby Romaine Park and Emu Valley Rhododendron Garden provide opportunities for outdoor activities such as walking, picnicking, and enjoying the natural beauty of the area. The suburb’s close proximity to Burnie’s beautiful beaches, such as West Beach and South Beach, offers additional options for swimming, sunbathing, and coastal walks.

Residents of Park Grove benefit from its proximity to Burnie’s cultural and recreational attractions, including the Burnie Regional Art Gallery, the Burnie Arts and Function Centre, and the Makers’ Workshop. These venues offer a range of cultural experiences, from art exhibitions to live performances and community events, contributing to the vibrant community life.

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