Suburb Profile Report for North Hobart TAS (7000)

North Hobart House: Median price $477,500, Annual capital growth 5.17%, Number of sales 26, Weekly median advertised rent $400

North Hobart Unit: Median price $421,900, Annual capital growth 4.35%, Number of sales 17, Weekly median advertised rent $420

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 329th in the list of Australian suburbs ordered by increase in median house value over the last year, North Hobart, 7000 is in the top 10% with a property value increase of 17.61% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, North Hobart comes in at number 36th in TAS.

Vendor discounting in North Hobart is giving property investors an average Vendor Discount of around -3.26%. This puts suburb at number 155th in TAS when ranking the most discounted suburbs.

Residents and property investors in North Hobart have been waiting around 22.87 days to sell a property.

Giving property investors a an average capital gain of 2.90% for the last year, North Hobart, 7000 is the 874th highest performer in Australia in this respect.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in North Hobart has increased when compared to the 5 year average annual rate.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in North Hobart, 7000. Typically our figures indicate that -2.39% is being offered, which puts this TAS suburb at 1400th most discounted overall in Australia.

North Hobart is 44th on a list of best yielding suburbs for rents in TAS with a 5.18% return

YIP MAG Information supplied by:

YIP MAG
July 2016

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While it is on the pricier side of things in Tasmania, with a median house price of $482,500, North Hobart looks like it could be in for a period of growth.Full summary While it is on the pricier side of things in Tasmania, with a median house price of $482,500, North Hobart looks like it could be in for a period of growth.

Encouragingly, house prices in the suburb have risen 23% over the last three years, with the last 12 months seeing growth of 17%.

Buyers seem keen at the moment to get in before further price rises, with houses in North Hobart currently on the market for just 26 days.

The solid growth has hit rental returns in the area though, with yields in North Hobart sitting at only 4%, which is lower than in many other areas of Hobart.

However, landlords are unlikely to struggle to find a tenant, as the current vacancy rate is just 0.86%, having fallen from 1.72% over the past 12 months, according to Real Estate Investar.Close
HOUSE UNIT
$477,500 $421,900
-5.45% N/A
17.61% 2.90%
5.17% 4.35%
$400 $420
26 17
4.36% 5.18%
22.87 37.93

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in North Hobart TAS
Demographics
Total population 2653
Median household income ($/weekly) 1159
Median age of persons 33
Median housing loan repayment ($/monthly) 1700
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 379 14.3
    25-34 years 495 18.7
    35-44 years 384 14.5
    45-54 years 372 14.0
    55-64 years 297 11.2
    Others 726 27.4
    Age Group
    Census Count Percent(%)
    Not Married 1131 56.5
    Registered Married 564 28.2
    Defacto Relationship 306 15.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2022 80.7
    Croatia 28 1.1
    Japan 26 1.0
    United Kingdom 119 4.7
    Other 90 3.6
    Others 222 8.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 42 1.8
    Christianity 1106 46.7
    Hinduism 25 1.1
    Other Religious Groups 24 1.0
    No Religion 1142 48.2
    Others 29 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 97 9.2
    $800-$999 95 9.0
    $1,000-$1,249 102 9.7
    $1,250-$1,499 97 9.2
    $1,500-$1,999 127 12.1
    Others 533 50.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 882 40.4
    Not in the labour force 622 28.5
    Employed, worked part-time 518 23.7
    Unemployed, looking for work 81 3.7
    Employed, away from work 79 3.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 156 10.5
    Professionals 508 34.3
    Technicians & trades workers 143 9.6
    Community & personal service workers 202 13.6
    Clerical & administrative workers 208 14.0
    Others 266 17.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 136 20.3
    Secondary 148 22.1
    Technical or Further Educational Institution 85 12.7
    University or other Tertiary Institutions 267 39.9
    Other type of educational institution 19 2.8
    Others 15 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1325 56.1
    Semi-detached, row or terrace house, townhouse 569 24.1
    Flat, unit or apartment 445 18.9
    House or flat attached to a shop, office 21 0.9
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 601 53.3
    Being purchased 300 26.6
    Fully owned 222 19.7
    Other tenure type 5 0.4
    Tenure Type
Census 2011, ABS
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