Suburb Profile Report for West Hobart TAS (7000)

West Hobart House: Median price $625,750, Annual capital growth 5.46%, Number of sales 88, Weekly median advertised rent $495

West Hobart Unit: Median price $426,250, Annual capital growth 4.43%, Number of sales 25, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in West Hobart has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 19.19%

West Hobart,7000 has offered an average of 19.19% return per annum in house price rises to property investors over the last three years.

The most recent median price for West Hobart is $625750, with sellers offering an average of -5.38% off the asking price.

Using the current median advertised rental of $495 and the average annual increase in value of a median property of 5.46%, investors should hope to achieve an overall return of 4.11%

West Hobart has had a A very good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 29.17% to date .

When looking at the potential capital gains offered to property investors over the last 3 years, West Hobart comes in at number 10th in TAS.

Vendor discounting in West Hobart is giving property investors an average Vendor Discount of around -5.83%. This puts suburb at number 15th in TAS when ranking the most discounted suburbs.

A $380 per week rent on the median house gives suburb investors a gross yield of circa 4.64%, without taking into account capital value appreciation, which has been averaging out at 4.43%.

Metrics i HOUSE UNIT
$625,750 $426,250
1.75% 6.76%
19.19% 29.17%
5.46% 4.43%
$495 $380
88 25
4.11% 4.64%
29.9 31

Source: CoreLogic

DSR Score for property investment : 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