Giving property investors a a solid capital gain of 24.87% for the last year, South Hobart, 7004 is the 190th 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 35.50% across each of those five years.
Vendor discounting in South Hobart is giving property investors an average Vendor Discount of around -8.57%. This puts suburb at number 24th in TAS when ranking the most discounted suburbs.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 5.84%, investors should hope to achieve an overall return of 4.37%
Property value increases in South Hobart have tracked higher than the TAS average of 3.47% over the last 12 months.
If we look at median property appreciation over just the last three months, South Hobart has given property investors a paper return of 4.56%. This puts Suburb as 15 on a list of fastest fasting appreciating suburbs in TAS
South Hobart7004 is located in TAS which offers an average discount of -5.10% to property investors. South Hobart itself is showing figures that indicate -3.66% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in South Hobart the average time real estate has been on the market is 15.47 days.
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.’’