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State’s 10 most affordable suburbs
New figures have revealed the cheapest suburbs for buyers to acquire real estate.
The Real Estate Institute of Tasmania (REIT) noted that housing affordability in the state has improved in recent months, with the proportion of income required to meet home loan repayments decreasing 0.7 percentage points.
Sales in the state have also slightly recovered, after falling 5.3 per cent over the March quarter, with a 3.5 increase over the June quarter.
Tasmania recorded over $774 million worth of property transactions in the June quarter, up 4.9 per cent from last quarter and a 10.2 per cent increase on the same quarter in 2015.
The REIT revealed the most affordable suburbs in the state and their median prices are:
1. Zeehan – $55,000
2. Queenstown– $62,000
3. George Town – $123,000
4. Clarendon Vale – $130,000
5. Smithton – $133,500
6. Ravenswood – $139,000
7. Scottsdale – $144,000
8. Gagebrook – $145,000
9. Primrose Sands – $160,000
10. Beauty Point – $162,500