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Dromedary, TAS 7030

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 Dromedary, TAS 7030 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 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

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 “Dromedary, TAS 7030”

  1. The total adult population (15 years or older) of Dromedary 7030 TAS is 693, with a median age of 42. Of those, 50.07% are married, 11.83% are divorced or separated, 33.04% are single and 4.04% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $7,972. The median monthly mortgage repayment for households in this suburb is $1,454 which is 18.24% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Tasmania, Dromedary (7030) is a somewhat low-density suburb with an estimated 329 households. The statistics as of Q3 2023 indicates a buoyant property market. Let’s delve into the breakdown.

    Typical house prices in Dromedary are at $795,359, coupled with a median weekly rent of $490. These figures translate into an indicative yield of 3.2%, which surpasses the minimum market requirement of 3%. Thus, this could be an appealing location for property investors focused on steady cash flows.

    The socio-economic status of Dromedary is somewhat high with an IRSAD score of 959 out of 1217, indicating a relatively affluent population. More importantly, the suburb boasts of a low renter to owner ratio of just 4%, much lower than the optimal threshold of 30%. This effectively means lower competition among landlords for tenants and potentially higher return on investments in the long term.

    Dromedary’s property landscape is predominantly marked by the presence of houses, with an impressive units to houses ratio of 0%. This lack of unit oversaturation further emphasises the appeal of the suburb to property investors.

    The downside, however, is the affordability index or years to own metric which stands at 39 years, exceeding the standard 30-year mortgage duration, indicating a less affordable housing market.

    On the supply dynamics, the suburb demonstrates extremely encouraging metrics. The stock on market Percentage for houses is at a low 0.3%, and inventory levels for houses are comfortably under two months at 1.71, indicating a favourable low-supply market scenario.

    Meanwhile, the building approvals Ratio sitting at a considerably high 18.84% might suggest an increased supply of new dwelling stock on the horizon.

    Remarkably, houses in Dromedary are attracting high demand, represented by an average of 15 days on market (DoM). However, the reasonably high vacancy rate for both houses and units at 7.69% suggests there could be a potential supply surplus in the rental market.

    Lastly, the buy search index for houses stands at 3, signifying tepid online search demand.

    In consideration of the above insights and market dynamics, it is essential for property investors and buyers agents to regularly monitor the changing property market trends. The RCS (Relative Composite Score) by HtAG Analytics can further automate this research to inform smarter investment decisions.

    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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