At number 541th in the list of Australian suburbs ordered by increase in median house value over the last year, Sandy Bay, 7005 is in the top 20% with a property value increase of 15.38% recorded in median house prices.
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.
Our latest figures would indicate that property sellers in Sandy Bay are currently offering property investors an average price cut of -6.58% below the asking price at the moment.
On average over the past year, suburb has had 13.42 sales per month, which equates to 161 per year.
Situated 3.15km from the CBD, Sandy Bay is one of Hobart localities in the postcode 7005.
Sandy Bay, 7005 ranked 18th 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
Sandy Bay,7005 was ranked 1140 in Australia by increase in median property value over the quarter.
Sandy Bay, 7005 is offering TAS ‘s 27th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this TAS.
With the median price for a house in Sandy Bay being $392500 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.24%
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.”