Suburb Profile Report for South Hobart TAS (7004)

South Hobart House: Median price $535,000, Annual capital growth 5.06%, Number of sales 74, Weekly median advertised rent $450

South Hobart Unit: Median price $340,375, Annual capital growth 2.98%, Number of sales 34, Weekly median advertised rent $338

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Giving property investors a a solid capital gain of 19.55% for the last year, South Hobart, 7004 is the 431th highest performer in Australia in this respect.

Across a shorter period, South Hobart, 7004 has seen a median price increase of 0.47% over the last quarter.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.16% offered to property buyers. Sellers in South Hobart itself are offering an average vendor discount of -6.96% to real estate investors.

South Hobart is 112th on a list of best yielding suburbs for rents in TAS with a 4.37% return

South Hobart is in the TOP 20% in TAS when comparing median price capital growth over the last year. South Hobart gave property investors a good capital gain figure when compared to the rest of the state, with 17.17%.

Across a shorter period, South Hobart, 7004 has seen a median price increase of 4.73% over the last quarter.

Our latest figures would indicate that property sellers in South Hobart are currently offering property investors an average price cut of -3.66% below the asking price at the moment.

In the last year 34 properties changed hands in South Hobart, which puts it as the 15th most active market in TAS when comparing the number of sales per suburb.

South Hobart is 43th on a list of best yielding suburbs for rents in TAS with a 5.16% return

YIP MAG Information supplied by:

YIP MAG
April 2015

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South Hobart is home to some of the most beautiful properties in TasmaniaFull summary

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.’’

 

Close
Metrics i HOUSE UNIT
$535,000 $340,375
0.47% 4.73%
19.55% 17.17%
5.06% 2.98%
$450 $338
74 34
4.37% 5.16%
23.04 16.36

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in South Hobart TAS
Demographics
Total population 5077
Median household income ($/weekly) 1214
Median age of persons 37
Median housing loan repayment ($/monthly) 1400
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 526 10.4
    25-34 years 763 15.0
    35-44 years 711 14.0
    45-54 years 702 13.8
    55-64 years 593 11.7
    Others 1782 35.1
    Age Group
    Census Count Percent(%)
    Not Married 1719 47.7
    Registered Married 1322 36.7
    Defacto Relationship 562 15.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 3906 80.5
    Croatia 59 1.2
    Papua New Guinea 72 1.5
    United Kingdom 337 6.9
    Other 140 2.9
    Others 338 7.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 110 2.4
    Christianity 2007 44.4
    Islam 48 1.1
    Other Religious Groups 42 0.9
    No Religion 2285 50.6
    Others 24 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 196 10.6
    $600-$799 167 9.1
    $800-$999 181 9.8
    $1,500-$1,999 250 13.6
    $2,000-$2,499 170 9.2
    Others 881 47.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1405 34.5
    Not in the labour force 1384 34.0
    Employed, worked part-time 953 23.4
    Unemployed, looking for work 180 4.4
    Employed, away from work 153 3.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 270 10.8
    Professionals 1008 40.2
    Technicians & trades workers 239 9.5
    Community & personal service workers 269 10.7
    Clerical & administrative workers 303 12.1
    Others 418 16.7
    Occupation
    Census Count Percent(%)
    Infants/Primary 365 25.3
    Secondary 263 18.3
    Technical or Further Educational Institution 107 7.4
    University or other Tertiary Institutions 623 43.3
    Other type of educational institution 42 2.9
    Others 40 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3603 80.5
    Semi-detached, row or terrace house, townhouse 492 11.0
    Flat, unit or apartment 361 8.1
    House or flat attached to a shop, office 19 0.4
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 655 33.1
    Being purchased 631 31.9
    Fully owned 627 31.7
    Other tenure type 66 3.3
    Tenure Type
Census 2011, ABS
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Recent sales & rentals