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Romaine, TAS 7320

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 Romaine, TAS 7320 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 “Romaine, TAS 7320”

  1. The total adult population (15 years or older) of Romaine 7320 TAS is 1,509, with a median age of 40. Of those, 49.37% are married, 11.66% are divorced or separated, 33.93% are single and 5.17% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $7,324. The median monthly mortgage repayment for households in this suburb is $1,300 which is 17.75% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Tasmania (TAS), the suburb of Romaine 7320 is home to around 822 households. As we dive into the property market statistics of Q3 2023, typical house prices in Romaine 7320 stand at $506,181. Paired with a median weekly rent of $380, they produce an indicative yield of 3.9%, which is in fact an attractive figure for cashflow-focused property investors, being noticeably above the minimum market requirement of 3%.

    In terms of the societal dynamics, Romaine’s IRSAD score is 934 out of 1217. This underscores rather favourable socio-economic conditions with relatively high amounts of residents having good access to economic resources and services.

    Looking at rental and unit dynamics, the renter to owner ratio is 23% while the units to houses ratio is at a low 8%. Both these figures point towards a positive investment potential. Romaine isn’t overrun by rentals and thus, doesn’t succumb to the risks and stigmas usually associated with a high renters presence. Likewise, the low units to houses ratio suggests a lesser likelihood of market over-saturation, considering that higher ratios can present risks to property values.

    The affordability index of Romaine indicates that an average person would need 27 years to fully own a property, which is deemed quite favourable and underlines a reasonable level of housing affordability in the suburb.

    On the supply side, Romaine seems favourable as well. The stock on market Percentage for houses is at a low 0.17%, suggesting limited supply. Similarly, the months of inventory recorded is a mere 0.75 months, again favouring the supply side of the equation. The building approvals Ratio is 0.35%, which is within the desirable range as well, implying low level of new supply.

    However, the demand metrics present a more nuanced picture. The days on market stands at 105 days, indicating relatively low demand. The Vacancy Rate, which covers both houses and units, is at 2.13% representing somewhat neutral demand. The buy search index for houses rests at 3, hinting at moderate demand but would need to climb further to indicate high demand.

    In conclusion, Romaine 7320 boasts favourable supply metrics, somewhat muted demand factors, but a promising yield along with a reasonable socio-economic score. It’s crucial to keep monitoring these indicators along with listening to market insights and trends, especially the HtAG Analytics’ RCS, to make a well-informed decision in the nuanced property landscape. This market snapshot suggests Romaine as a suburb of interest for potential investors who value cash flow and socio-economic health.

    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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