Property investors who have had real estate in Sandy Bay, 7005 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.64%
Comparing Sandy Bay,7005 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Sandy Bay is $750049, with sellers offering an average of -6.77% off the asking price.
Renters in Suburb are facing rents around $5880 per annum or $490 every week.
Sandy Bay is in the TOP 30% in TAS when comparing median price capital growth over the last year. Sandy Bay gave property investors a good capital gain figure when compared to the rest of the state, with 7.59%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Sandy Bay has increased when compared to the 5 year average annual rate.
Property buyers and investors in Sandy Bay 7005 should be seeing an average reduction in asking price of around -4.17% . This means that Sandy Bay is holding prices well when compared to other suburbs in TAS.
Advertised rents are around the $320 mark per week – giving a return of 4.27% based on the median price in Suburb
Sandy Bay is a prestigious suburb located 3km south of the Hobart CBD and hosts the majority of the region’s million-dollar homes. It also boasts fantastic infrastructure, including Wrest Point, Australia’s first casino.Full summary
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Sandy Bay is a prestigious suburb located 3km south of the Hobart CBD and hosts the majority of the region’s million-dollar homes. It also boasts fantastic infrastructure, including a number of major supermarkets, excellent public and private schools for both boys and girls, great public transport access to Hobart and a vibrant restaurant and shopping strip. Australia’s first casino, Wrest Point, is located in Sandy Bay.
Recent buying activity in Sandy Bay has far outstripped that of its prime suburb peers. One selling point is the University of Tasmania, located on Churchill Avenue, which means there is no shortage of students and academics requiring housing. This adds a rental element to an area that would otherwise be suited more to capital growth investments.
Robbie Yeoland from Key Property Management believes the suburb is clearly divided into two sections: an older style area, which is on the water side and a modern area, situated above the university and Churchill Avenue.
“Sandy Bay Road and Churchill Avenue run parallel to each other,” Yeoland says. “While there is a separation in styles, nearly every property has a water view and all the major players in real estate are in Sandy Bay.”