Suburb Profile Report for Sandy Bay TAS (7005)

Sandy Bay House: Median price $750,000, Annual capital growth 4.06%, Number of sales 161, Weekly median advertised rent $485

Sandy Bay Unit: Median price $392,500, Annual capital growth 3.28%, Number of sales 88, Weekly median advertised rent $320

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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%

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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 Wrest Point, Australia’s first casino.Full summary

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.”

Close
HOUSE UNIT
$750,000 $392,500
5.63% -1.26%
15.38% 8.28%
4.06% 3.28%
$485 $320
161 88
3.36% 4.24%
52.47 58.49

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Sandy Bay TAS
Demographics
Total population 11156
Median household income ($/weekly) 1279
Median age of persons 40
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 1533 13.7
    25-34 years 1462 13.1
    35-44 years 1049 9.4
    45-54 years 1364 12.2
    55-64 years 1511 13.5
    Others 4237 38.0
    Age Group
    Census Count Percent(%)
    Not Married 3969 46.2
    Registered Married 3859 44.9
    Defacto Relationship 766 8.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 7322 68.9
    Croatia 601 5.7
    Malta 255 2.4
    United Kingdom 653 6.1
    Other 479 4.5
    Others 1317 12.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 286 2.8
    Christianity 5683 55.7
    Hinduism 130 1.3
    Islam 350 3.4
    No Religion 3668 35.9
    Others 94 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 366 9.3
    $800-$999 353 9.0
    $1,000-$1,249 319 8.1
    $1,500-$1,999 396 10.1
    $2,500-$2,999 378 9.6
    Others 2127 54.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3754 40.7
    Employed, worked full-time 2771 30.0
    Employed, worked part-time 2068 22.4
    Unemployed, looking for work 342 3.7
    Employed, away from work 298 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 758 14.8
    Professionals 1946 37.9
    Community & personal service workers 498 9.7
    Clerical & administrative workers 664 12.9
    Sales 469 9.1
    Others 799 15.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 627 18.5
    Secondary 635 18.8
    Technical or Further Educational Institution 179 5.3
    University or other Tertiary Institutions 1781 52.7
    Other type of educational institution 88 2.6
    Others 71 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7476 73.8
    Flat, unit or apartment 1896 18.7
    Semi-detached, row or terrace house, townhouse 744 7.3
    House or flat attached to a shop, office 13 0.1
    Caravan, cabin, houseboat 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1795 41.6
    Rented 1451 33.6
    Being purchased 994 23.0
    Other tenure type 79 1.8
    Tenure Type
Census 2011, ABS
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Recent sales & rentals