At number 434th 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 16.09% recorded in median house prices.
Comparing Sandy Bay,7005 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 84th 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.
In the last year 153 properties changed hands in Sandy Bay, which puts it as the 5th most active market in TAS when comparing the number of sales per suburb.
Sandy Bay is 124th on a list of best yielding suburbs for rents in TAS with a 3.32% return
If you compare the increase in value of investment property in Sandy Bay, 7005 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 6.54%.
A 7.95% growth in median value for property investors in Sandy Bay,7005 puts this suburb at number 19th in terms of best performing suburbs in TAS
Sellers are offering property buyers an average discount of -4.03% to buyers in Sandy Bay at the moment, which is less than average for the rest of TAS.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 3.04%, investors should hope to achieve an overall return of 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.”