Suburb Profile Report for West Hobart TAS (7000)

West Hobart House: Median price $593,500, Annual capital growth 5.75%, Number of sales 78, Weekly median advertised rent $478

West Hobart Unit: Median price $330,000, Annual capital growth 2.96%, Number of sales 25, Weekly median advertised rent $335

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in West Hobart have tracked higher than the TAS average of 3.72% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, West Hobart comes in at number 14th in TAS.

Property investors looking for a bargain in West Hobart should be aiming for at least -4.75% off the asking price, which is the average vendor discount being achieved at the moment.

Situated 1.62km from the CBD, West Hobart is one of Hobart localities in the postcode 7000.

West Hobart has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -7.82% to date .

The five-year average increase in median property values for West Hobart,7000 has given property investors a potential capital gain of -4.65% across each of those five years.

Sellers are offering property buyers an average discount of -5.29% to buyers in West Hobart at the moment, which is less than average for the rest of TAS.

Advertised rents are around the $335 mark per week – giving a return of 5.28% based on the median price in Suburb

HOUSE UNIT
$593,500 $330,000
6.74% -4.35%
17.52% -7.82%
5.75% 2.96%
$478 $335
78 25
4.18% 5.28%
33.33 48.29

Source: CoreLogic

DSR Score for property investment : Very good (U), Very good (H)
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Demographics
Total population 5800
Median household income ($/weekly) 1345
Median age of persons 37
Median housing loan repayment ($/monthly) 1625
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 664 11.4
    25-34 years 842 14.5
    35-44 years 920 15.9
    45-54 years 897 15.5
    55-64 years 705 12.2
    Others 1772 30.6
    Age Group
    Census Count Percent(%)
    Not Married 2087 47.9
    Registered Married 1690 38.8
    Defacto Relationship 579 13.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4544 82.6
    Croatia 39 0.7
    Papua New Guinea 78 1.4
    United Kingdom 322 5.9
    Other 141 2.6
    Others 380 6.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 83 1.6
    Christianity 2349 45.1
    Islam 31 0.6
    Other Religious Groups 47 0.9
    No Religion 2681 51.5
    Others 19 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 210 9.7
    $1,000-$1,249 190 8.8
    $1,500-$1,999 288 13.3
    $2,000-$2,499 212 9.8
    $2,500-$2,999 195 9.0
    Others 1070 49.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1849 40.4
    Not in the labour force 1259 27.5
    Employed, worked part-time 1135 24.8
    Employed, away from work 170 3.7
    Unemployed, looking for work 164 3.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 428 13.6
    Professionals 1266 40.2
    Technicians & trades workers 289 9.2
    Community & personal service workers 316 10.0
    Clerical & administrative workers 406 12.9
    Others 443 14.1
    Occupation
    Census Count Percent(%)
    Pre-school 45 3.0
    Infants/Primary 475 31.5
    Secondary 324 21.5
    Technical or Further Educational Institution 137 9.1
    University or other Tertiary Institutions 497 32.9
    Others 32 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4394 80.9
    Flat, unit or apartment 541 10.0
    Semi-detached, row or terrace house, townhouse 474 8.7
    House or flat attached to a shop, office 20 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 868 36.7
    Fully owned 746 31.5
    Being purchased 738 31.2
    Other tenure type 13 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals