Sandy Bay, 7005 ranked 24th in TAS when comparing growth in median property values or capital gain over the last 12 months. Sandy Bay is one of 606 in our list for TAS
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.
Sandy Bay7005 is located in TAS which offers an average discount of -7.01% to property investors. Sandy Bay itself is showing figures that indicate -5.85% is the average achievable by property buyers investing in the suburb.
Residents and property investors in Sandy Bay have been waiting around 57.05 days to sell a property.
Investment property in Sandy Bay has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.09%
Across a shorter period, Sandy Bay, 7005 has seen a median price increase of 1.88% over the last quarter.
Our latest figures would indicate that property sellers in Sandy Bay are currently offering property investors an average price cut of -3.69% below the asking price at the moment.
In the last year 101 properties changed hands in Sandy Bay, which puts it as the 1st most active market in TAS when comparing the number of sales per suburb.
Sandy Bay, 7005’s gross rental yield is 4.47%
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.”