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Ringarooma, TAS 7263

Home » TAS Real Estate Data » Dorset Council, TAS » Ringarooma, TAS 7263

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 Ringarooma, TAS 7263 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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Rent 

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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 “Ringarooma, TAS 7263”

  1. The total adult population (15 years or older) of Ringarooma 7263 TAS is 288, with a median age of 53. Of those, 47.92% are married, 16.67% are divorced or separated, 28.12% are single and 5.90% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $5,132. The median monthly mortgage repayment for households in this suburb is $867 which is 16.89% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of RINGAROOMA 7263, located in TAS, is a relatively small community with an estimated 200 households. The housing market here offers some interesting insights. As of Q3 2023, the typical price for houses in this area stands at $432,459. Houses fetch a median weekly rent of $346, thus generating an indicative yield of 4.16%, significantly above the minimum attractive market requirement of 3% for cashflow-centered property investors.

    The socio-economic landscape of the suburb is notable, featuring an IRSAD score of 888 out of a potential 1217. This suggests that the residents enjoy moderately high access to a range of amenities and opportunities, with favourable socio-economic conditions.

    The renter to owner ratio stands at 16%, meaning the suburb predominantly attracts owners compared to renters. This presents an advantage as markets oversaturated with rental properties often present lower long-term returns and also pose a risk of high competition among property investors.

    There is a distinctly lower proportion of units to houses, with a ratio of just 1%. The majority of properties being houses can reduce competition among landlords for tenants and make for long tenancy periods, generally associated with high rental yields.

    However, the suburb falls short when it comes to the affordability, with the index suggesting it would take approximately 33 years to fully own a property. Nonetheless, this factor may not necessarily deter investors considering the above-average indicative yield.

    Supply metrics for RINGAROOMA indicate a stock on market Percentage of 0.5% for houses, aligning within the neutral range. The inventory level points to 4.0 months, tipping slightly towards an unfavorable high supply. building approvals Ratio, on the other hand, is within an acceptable 0.5% ratio.

    With an average of 136 days on market for houses, demand may be considered somewhat low. This is somewhat supported by the suburb’s vacancy rate of 3.12%, which rests within the neutral range. The buy search index for houses, which measures the ratio of online buy searches to the state or city average, is at 3, hinting at limited demand.

    In conclusion, while some metrics such as the affordability index and days on market present limitations, the above-average yield, owner-preferred market and favourable socio-economic score offer compelling reasons for prospective investors to consider RINGAROOMA 7263. As always, it’s worthwhile to track the data trends and maintain a balanced perspective, acknowledging that a few unfavourable metrics can be counterbalanced by the majority of other favourable data points.

    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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