Suburb Profile Report for South Hobart TAS (7004)

South Hobart House: Median price $520,000, Annual capital growth 5.15%, Number of sales 67, Weekly median advertised rent $425

South Hobart Unit: Median price $308,250, Annual capital growth 1.86%, Number of sales 28, Weekly median advertised rent $330

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in South 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 24.55%

South Hobart,7004 has offered an average of 24.55% return per annum in house price rises to property investors over the last three years.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in South Hobart, 7004. Typically our figures indicate that -11.59% is being offered, which puts this TAS suburb at 202th most discounted overall in Australia.

Residents and property investors in South Hobart have been waiting around 34.52 days to sell a property.

Renters in Suburb are facing rents around $5100 per annum or $425 every week.

South Hobart has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 3.79% to date .

While South Hobart,7004 ranked number 41th in TAS for increase in median house value (annualised) increase, it is ranked 10th over the last 5 years.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.25% offered to property buyers. Sellers in South Hobart itself are offering an average vendor discount of -3.54% to real estate investors.

At number 4 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 17.11 for properties listed there.

With the median price for a house in South Hobart being $308250 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 5.57%

YIP MAG Information supplied by:

YIP MAG
April 2015

M
O

W
E
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
$520,000 $308,250
11.59% -0.56%
24.55% 3.79%
5.15% 1.86%
$425 $330
67 28
4.25% 5.57%
34.52 17.11

Source: CoreLogic

DSR Score for property investment : Good (U), Very good (H)
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
Chart Table
Recent sales & rentals