TAS has seen average median house prices change by 8.18% which means that Sandy Bay, 7005 has done well for property investors by showing a capital gain of 13.33% over the last year
If we look at median property appreciation over just the last three months, Sandy Bay has given property investors a paper return of 2.66%. This puts Suburb as 72 on a list of fastest fasting appreciating suburbs in TAS
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 -5.85% is being offered, which puts this TAS suburb at 1686th most discounted overall in Australia.
At number 1044 in a list of fastest selling suburbs, Sandy Bay is in the TOP 30% of suburbs in Australia with an average of days on market 56.24 for properties listed there.
Property value increases in Sandy Bay have tracked higher than the TAS average of 5.89% over the last 12 months.
Sandy Bay,7005 was ranked 276 in Australia by increase in median property value over the quarter.
At number 25th 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.
Residents and property investors in Sandy Bay have been waiting around 33.82 days to sell a property.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
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
Information supplied by:
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.”