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%
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.’’