At number 513th in the list of Australian suburbs ordered by increase in median house value over the last year, South Hobart, 7004 is in the top 20% with a property value increase of 18.89% recorded in median house prices.
South Hobart,7004 was ranked 2836 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that South Hobart is offering property investors an average of -6.05. This rate of discount on properties puts Suburb at number 43th in terms of most discounted suburbs in TAS
In the last year 76 properties changed hands in South Hobart, which puts it as the 35th most active market in TAS when comparing the number of sales per suburb.
Using the current median advertised rental of $460 and the average annual increase in value of a median property of 5.21%, investors should hope to achieve an overall return of 4.47%
Property value increases in South Hobart have tracked higher than the TAS average of 5.89% over the last 12 months.
The five-year average increase in median property values for South Hobart,7004 has given property investors a potential capital gain of 27.54% across each of those five years.
South Hobart, 7004 is offering TAS ‘s 36th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this TAS.
The TAS suburb of South Hobart, 7004 is in the Hobart local government area.
South Hobart is home to some of the most beautiful properties in TasmaniaFull summary
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South Hobart is home to some of the most beautiful properties in Hobart.
This, coupled with a ‘’green tinge’’ to the area, is making the suburb attractive to a wide range of people.
Hank Petrusma, of Petrusma Property, says South Hobart provides a unique environment that is hard to find.
“South Hobart is relatively close to the Hobart CBD, but yet retains a lot of the green components between the city and the mountains. It’s got a great sense of community and you’ve got all your local cafés, chemists and a great primary school.’’
Located on the gentle valley slopes of Mount Wellington, South Hobart provides an area with fantastic views.
With a vacancy rate of just 1.33%, properties are getting snapped up at an alarming pace. Petrusma says the area appeals to a wide range of people.
‘’It’s a combination of families who enjoy the outdoor lifestyle and young couples, but I think it goes right across the board, providing a mixture of the old and the new.
“The most important thing about South Hobart is it’s got a very strong community spirit and a village atmosphere, and yet it’s so close to the CBD.’’
A perfect mix of old and new, there is no real pattern to which streets are more popular. However, areas near Marlyn Road and Strickland Avenue have great views.
Petrusma says property investors should be looking to take advantage of what South Hobart has to offer.
“Number one, it’s location, location, location. All services are close by; everything you could possibly want to have in an enjoyable lifestyle is handy.’’