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Binalong Bay, TAS 7216

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If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Binalong Bay, TAS 7216 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Yield 

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Buy 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Binalong Bay, TAS 7216”

  1. The total adult population (15 years or older) of Binalong Bay 7216 TAS is 295, with a median age of 58. Of those, 51.53% are married, 18.31% are divorced or separated, 26.10% are single and 3.73% are widowed.

    The average household size is 2.0 people per dwelling, and the median household monthly income is estimated to be $5,080. The median monthly mortgage repayment for households in this suburb is $1,409 which is 27.74% of their earnings.

    Source: ABS Census Data (2021)

  2. BINALONG BAY 7216 is a suburb nestled within Tasmania, playing host to an estimated 513 households. Coming into Q3 of 2023, this area sports typical house prices at approximately $1,029,491, whereas median weekly rent hovers around $450, culminating in an indicative yield of 2.27%. Though this yield falls slightly below the attractive market requirement of 3%, investing in property within BINALONG BAY shouldn’t be ruled out based on this figure alone.

    Taking into account the Index of Relative Socio-economic Advantage and Disadvantage, the BINALONG BAY suburb scores a commendable 956 out of 1,217, signposting a favourable economic status within the region. This socio-economic factor has implications on rental yield and property appreciation and is therefore a metric that deserves investor attention.

    An encouraging sign for property investors is the renter to owner ratio, which stands at 24%. This clears the threshold for acceptable ratios, lying below the 30% mark that signifies markets oversaturated with rental properties. With this, the risk of high competition with other property investors and lower returns in the long term is significantly mitigated.

    Further tipping the scale in the favour of investors is the unit to houses ratio. With a ratio of 1%, the market is far from oversaturated with rentals from units. This helps maintain higher rental yields while lowering the competition among property owners for tenants.

    The BINALONG BAY market evinces a high affordability index relative to house purchases, standing at 82 years. This index surpasses the 31-year mark that indicates decreased affordability. This metric, however, is not the be-all-end-all in the investment decision-making process and need to be considered in relation to all other factors.

    In terms of supply metrics, the suburb presents a stock on market Percentage of 1.17% for houses which falls into the neutral range. The inventory level for houses in BINALONG BAY, however, can be considered favourable, sitting at 14.4 months. The building approvals Ratio for houses is 0.0%, suggesting potentially limited future supply.

    Turning to demand metrics, houses in BINALONG BAY spend an average of 81 days on the market, indicating moderate demand. The suburb maintains a vacancy rate of 1.65%, demonstrating a balance between supply and demand, and a buy search index for houses is neutral at 3.

    In summary, while BINALONG BAY 7216 may have some metrics that fall outside of the optimal range for property investment, many of its parameters are favourable and thus it warrants consideration for potential property investors. The RCS metric proposed by HtAG Analytics might be useful in automating this research process by taking into account over 80 such variables. As always, a keen eye on market trends and data remains the best approach to investing in Australian real estate market.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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