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Honeywood, TAS 7017

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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 Honeywood, TAS 7017 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.

Buy 

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Rent 

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Yield 

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Buy 

1BR

2BR

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Rent 

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Yield 

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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 “Honeywood, TAS 7017”

  1. The total adult population (15 years or older) of Honeywood 7017 TAS is 422, with a median age of 37. Of those, 50.95% are married, 12.56% are divorced or separated, 35.31% are single and 3.08% are widowed.

    The average household size is 3.2 people per dwelling, and the median household monthly income is estimated to be $9,728. The median monthly mortgage repayment for households in this suburb is $1,625 which is 16.70% of their earnings.

    Source: ABS Census Data (2021)

  2. The picturesque locale of Honeywood, postcode 7017, finds its place in the scenic landscapes of Tasmania, housing a modest community of approximately 198 households. As we dive into the third quarter of 2023, it’s prevalent that the typical prices for houses in Honeywood hover around the $880,927 bracket. With median weekly rent tallying at a steady $158, this area showcases an indicative yield equating to roughly 0.93%.

    Delving into the socio-economic backdrop of the suburb, the IRSAD score settles at 987 out of a potential 1217. This indicates that the local population enjoy substantial access to economic resources, underpinning a high-income bracket and a population comprised predominantly of individuals in skilled professions.

    The landscape of Honeywood presents a remarkably low renter to owner ratio, manifesting at a mere 2%. This refreshing statistic emphasises a strong sense of ownership within the community, dissipating the drawbacks often associated with rental saturated markets. Effectively, this low figure indicates a potentially rewarding playground for property investors.

    In terms of property type distribution in Honeywood, a clear trend highlights predominant house ownership, supported by a 0% units to houses ratio. This dynamic is key to the less competitive rental market and connotes a more robust rental yield, further solidifying attractiveness to potential investors considering Honeywood.

    However, the affordability index does deliver some pushback with a steeper climb to home ownership. Conveying a 35 years outlook, it extends the typical 30 year mortgage window, reinforcing the relatively higher price of properties in the area.

    In Q3 2023, the stock on market percentage and inventory level for houses in Honeywood are at 1.01% and 8.0 months respectively. These figures indicate a relatively balanced property market with neither alarming oversupply nor severe demand-supply gap.

    Honeywood’s building approval ratio stands at 9.09%, possibly indicating a spurt in new dwellings. However, with a tempered 86-day average ‘Days on Market’ for houses and a manageable vacancy rate of 3%, it seems the demand is tentatively keeping pace.

    Intriguingly, the buy search index for houses in Honeywood tips the scale at 6, suggesting that the suburb is seeing increased interest from potential investors and home buyers alike.

    In conclusion, Honeywood represents an intriguing proposition teetering on fine balances. Although facing some affordability challenges and a slightly extended property soak-up rate, it counters with exceptionally low renter numbers and a solid ownership majority. With a very promising Buy Search Index, Honeywood could well be a rewarding endeavour for the savvy property investor prepared to delve beyond surface statistics. As in all property investments, monitoring trends and a thorough analysis of all metrics will reinforce any decisions made.

    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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