Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
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 $260,000.
The upward trend in home prices in UPPER BURNIE, 7320 averaged 8.43% per annum over a 3-year period.
Average weekly rents on listings have reached the $325 mark, reflecting a 6.5% increase in returns based on the current median price in UPPER BURNIE.
An average of 3.25 real estate transactions take place per month in UPPER BURNIE which translates to 39 per annum.
39 properties were sold in UPPER BURNIE in 2016, making it the 56th most active market in TAS based on total real estate transactions.
UPPER BURNIE, 7320 places 37th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $260,000 | $182,500 |
| GROWTH REPORT | ||
| Median Quarterly | 7.22% | -2.01% |
| Median 12 month | 9.47% | 2.24% |
| Median 3 years | 25.3% | 20.46% |
| Median 5 years | 26.83% | N/A |
| 10 years average annual | 2.63% | -0.2% |
| Weekly media advert. rent | $325 | $240 |
| Time on Market | 49.2 days | 0.0 days |
| Gross Rental Yield Percent | 6.5% | 6.84% |
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