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 14.81%
If we look at median property appreciation over just the last three months, Sandy Bay has given property investors a paper return of 1.31%. This puts Suburb as 89 on a list of fastest fasting appreciating suburbs in TAS
At number 96th of TAS’s most discounted properties, Sandy Bay is in the middle of the state/territory when listing in order of most discounted to least.
With the median price for a house in Sandy Bay being $775000 and the advertised rent reaching $495 the gross rental yield for property investors calculates out to be 3.32%
Sandy Bay has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 7.82% to date .
While Sandy Bay,7005 ranked number 25th in TAS for increase in median house value (annualised) increase, it is ranked 17th over the last 5 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 Sandy Bay, 7005. Typically our figures indicate that -3.71% is being offered, which puts this TAS suburb at 1174th most discounted overall in Australia.
Sandy Bay, 7005’s gross rental yield is 4.42%
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.”