Volume 1 Issue 3
Hi all, Another month has flown by and things in Tassie are still going ‘gangbusters’, please see the below information regarding Tasmania’s real estate market. Affordable suburbs in the vicinities of Claremont, Austin’s Ferry, Brighton, New Norfolk, Oakdowns, Midway Point and Sorell offer properties under $700,000 with good rental returns in today’s environment of around 4.5 to six per cent depending on the location and condition of the property, Mr Davies said: “The sub-$700,000 market is expected to perform well into the near future with cheap money and demand well exceeding supply,” he said. “Looking back 12 months, if you had $700,000 to invest in the Hobart and outer lying areas, you could have acquired two dwellings or attached units and would expect a solid rental return,” Mr Davies said. “In today’s market, you would be struggling. “There are a multitude of properties listed for sale on realestate.com.au under this price, however … those listed close to the $700,000 mark expected to exceed well over the listed price.” Meanwhile, Tasmanian property valuer Mark Davies has described Hobart’s property market as “going gangbusters” in the new Herron Todd White Month in Review. At this point in time, there is no reason why the market won’t keep going especially with interest rates at record lows, he said. Information found above via this link: https://www.realestate.com.au/news/investors-happy-to-stay-put-in-tassie-market/