Sandy Bay has had a A very good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 15.72% to date .
Sandy Bay,7005 was ranked 800 in Australia by increase in median property value over the quarter.
Vendor discounting in Sandy Bay is giving property investors an average Vendor Discount of around -7.16%. This puts suburb at number 64th in TAS when ranking the most discounted suburbs.
At number 526 in a list of fastest selling suburbs, Sandy Bay is in the TOP 20% of suburbs in Australia with an average of days on market 51.17 for properties listed there.
Property investors should expect to get $490 weekly from the median priced house in this suburb.
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 12.99%
The five-year average increase in median property values for Sandy Bay,7005 has given property investors a potential capital gain of 6.67% across each of those five years.
Sellers are offering property buyers an average discount of -4.03% to buyers in Sandy Bay at the moment, which is less than average for the rest of TAS.
At number 234 in a list of fastest selling suburbs, Sandy Bay is in the TOP 20% of suburbs in Australia with an average of days on market 50.4 for properties listed there.
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.”