At number 147th in the list of Australian suburbs ordered by increase in median house value over the last year, West Hobart, 7000 is in the top 10% with a property value increase of 25.30% recorded in median house prices.
Over the longer term, West Hobart has seen property prices show investors a 32.87% return over the last 3 years. This is worse than over the last 12 months
Property buyers and investors in West Hobart 7000 should be seeing an average reduction in asking price of around -5.58% . This means that West Hobart is holding prices well when compared to other suburbs in TAS.
Residents and property investors in West Hobart have been waiting around 29.32 days to sell a property.
With the median price for a house in West Hobart being $626500 and the advertised rent reaching $485 the gross rental yield for property investors calculates out to be 4.03%
Over the last year, property investments in West Hobart, 7000 have given investors a capital gain of 20.76%. This compares very favourably with the 3.60% for TAS as a whole.
Over the longer term, West Hobart has seen property prices show investors a 10.69% return over the last 3 years. This is an improvement over the last 12 months
LACK OF BUYER INTEREST may well be the reason that West Hobart is offering property investors an average of -5.25. This rate of discount on properties puts Suburb at number 21th in terms of most discounted suburbs in TAS
On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 4.65%, investors should hope to achieve an overall return of 4.96%