Giving property investors a a solid capital gain of 15.91% for the last year, South Hobart, 7004 is the 476th highest performer in Australia in this respect.
The five-year average increase in median property values for South Hobart,7004 has given property investors a potential capital gain of 27.50% across each of those five years.
South Hobart7004 is located in TAS which offers an average discount of -7.01% to property investors. South Hobart itself is showing figures that indicate -8.97% is the average achievable by property buyers investing in the suburb.
A $425 per week rent on the median house gives suburb investors a gross yield of circa 4.33%, without taking into account capital value appreciation, which has been averaging out at 4.77%.
At number 705th in the list of Australian suburbs ordered by increase in median house value over the last year, South Hobart, 7004 is in the top half with a property value increase of 4.88% recorded in median house prices.
Across a shorter period, South Hobart, 7004 has seen a median price increase of 5.95% 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 -4.22% below the asking price at the moment.
At number 6 in a list of fastest selling suburbs, South Hobart is in the TOP 10% of suburbs in Australia with an average of days on market 17.41 for properties listed there.
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.’’