Suburb Profile Report for West Hobart TAS (7000)

West Hobart House: Median price $626,500, Annual capital growth 6.27%, Number of sales 84, Weekly median advertised rent $485

West Hobart Unit: Median price $398,500, Annual capital growth 4.65%, Number of sales 24, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report

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%

Metrics i HOUSE UNIT
$626,500 $398,500
5.56% 20.76%
25.30% 20.76%
6.27% 4.65%
$485 $380
84 24
4.03% 4.96%
29.32 64.44

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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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