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AREA REPORTS

Somerset

Suburb Profile

Somerset - FREE SUBURB PROFILE REPORT
POSTAL CODE: TAS,7322

house
unit

Property investments in SOMERSET did not fare well against the rest of the country last year, registering a median home price decrease of 30%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are high, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains SOMERSET, 7322 saw average growth in the long term.

Real estate investors could earn a rental income of $290 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 73.3 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $299,000.

SOMERSET ranks 74th on the list of best yielding suburbs for rental properties in TAS, posting a 5.04% return.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $299,000 $265,000
GROWTH REPORT
Median Quarterly 11.99% -1.85%
Median 12 month 30% -5.36%
Median 3 years 6.79% 1.92%
Median 5 years 30.57% 7.07%
10 years average annual 3.92% 1.43%
Weekly media advert. rent $290 $230
Time on Market 73.3 days 72.8 days
Gross Rental Yield Percent 5.04% 4.51%
demographics (median values)
Total Population
3080
Weekly Household Income
621.4
Household Size
2.30
demographics
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