Suburb Profile Report for Hobart TAS (7000)

Hobart House: Median price $575,000, Annual capital growth 6.98%, Number of sales 21, Weekly median advertised rent $495

Hobart Unit: Median price $490,100, Annual capital growth 2.20%, Number of sales 36, Weekly median advertised rent $498

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Hobart, 7000 have given investors a capital gain of 9.00%. This compares favourably with the 4.95% for TAS as a whole.

Hobart,7000 has offered an average of 9.00% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Hobart 7000 should be seeing an average reduction in asking price of around -3.87% . This means that Hobart is holding prices well when compared to other suburbs in TAS.

Residents and property investors in Hobart have been waiting around 32.78 days to sell a property.

Situated 0.86km from the CBD, Hobart is one of Hobart localities in the postcode 7000.

Over the last year, property investments in Hobart, 7000 have given investors a capital gain of 3.18%. This compares averagely with the 4.00% for TAS as a whole.

While Hobart,7000 ranked number 7th in TAS for increase in median house value (annualised) increase, it is ranked 32th over the last 5 years.

Hobart7000 is located in TAS which offers an average discount of -5.71% to property investors. Hobart itself is showing figures that indicate -0.87% is the average achievable by property buyers investing in the suburb.

Advertised rents are around the $497.5 mark per week – giving a return of 5.28% based on the median price in Suburb

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You can’t get closer to the centre of Hobart than this suburb. One of Tasmania’s most desirable locations, postcode 7000 offers unparalleled employment opportunities and amenities. Admittedly, properties aren’t cheap compared to the rest of the Apple Isle.

Full summary

You can’t get closer to the centre of Hobart than this suburb. One of Tasmania’s most desirable locations, postcode 7000 offers unparalleled employment opportunities and amenities. Admittedly, properties aren’t cheap compared to the rest of the Apple Isle.

“Battery Point and Hobart CBD both offer investment opportunities,” says Andrew Peck, director of Herron Todd White Tasmania. “These are the premium suburbs and will be in the future. The return on initial investment may not be fantastic; however there are strong capital growth prospects.”

He adds that the inner city residential area of Hobart itself has seen some of the best returns over the past 10 years.

“In 1998 the median price was a mere $125,000. 2008 saw the median price increase to $480,000,” adds Peck. “That represents a 284% increase in the 10-year period. The convenience of surrounding amenities is a huge drawcard to the area, plus the bonus of CBD locale. Surely Hobart’s CBD must be seen as one on the best places for long term investment.”

My Property Hunter principal Rob Zubin suggests the area around Collins Street, Argyle Street and Campbell Street as featuring some unit and townhouse developments that are often in demand due to their proximity to the Royal Hobart Hospital.

Close
Metrics i HOUSE UNIT
$575,000 $490,100
-2.13% 8.91%
9.00% 3.18%
6.98% 2.20%
$495 $498
21 36
4.48% 5.28%
32.78 43.28

Source: CoreLogic

DSR Score for property investment : Very good (U), Good (H)
Find a mortgage broker in Hobart TAS
Demographics
Total population 2102
Median household income ($/weekly) 1099
Median age of persons 32
Median housing loan repayment ($/monthly) 1733
Average household size 1.9
  • Census Count Percent(%)
    20-24 years 367 17.5
    25-34 years 483 23.0
    35-44 years 239 11.4
    45-54 years 215 10.2
    55-64 years 239 11.4
    Others 558 26.6
    Age Group
    Census Count Percent(%)
    Not Married 794 59.3
    Registered Married 355 26.5
    Defacto Relationship 189 14.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1316 71.5
    Croatia 43 2.3
    Indonesia 59 3.2
    United Kingdom 96 5.2
    Other 88 4.8
    Others 238 12.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 67 4.0
    Christianity 766 45.6
    Hinduism 43 2.6
    Islam 30 1.8
    No Religion 751 44.7
    Others 24 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 78 11.1
    $600-$799 67 9.5
    $800-$999 71 10.1
    $1,000-$1,249 68 9.7
    $1,500-$1,999 81 11.5
    Others 337 48.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 686 40.0
    Not in the labour force 598 34.8
    Employed, worked part-time 314 18.3
    Unemployed, looking for work 72 4.2
    Employed, away from work 47 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 158 15.1
    Professionals 369 35.2
    Community & personal service workers 123 11.7
    Clerical & administrative workers 156 14.9
    Sales 91 8.7
    Others 151 14.4
    Occupation
    Census Count Percent(%)
    Infants/Primary 46 10.5
    Secondary 63 14.4
    Technical or Further Educational Institution 48 10.9
    University or other Tertiary Institutions 259 59.0
    Other type of educational institution 15 3.4
    Others 8 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 638 44.0
    Separate house 374 25.8
    Semi-detached, row or terrace house, townhouse 320 22.1
    House or flat attached to a shop, office 113 7.8
    Caravan, cabin, houseboat 5 0.3
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 484 64.0
    Fully owned 128 16.9
    Being purchased 116 15.3
    Other tenure type 28 3.7
    Tenure Type
Census 2011, ABS
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