Suburb Profile Report for Lutana TAS (7009)

Lutana House: Median price $292,500, Annual capital growth 3.69%, Number of sales 41, Weekly median advertised rent $330

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

Source: CoreLogic

  • House Report
  • Expert Report

Lutana is an average performer in TAS when comparing median price capital growth over the last year. Lutana gave property investors a average capital gain figure when compared to the rest of the state, with 2.63%.

If we look at median property appreciation over just the last three months, Lutana has given property investors a paper return of -0.85%. This puts Suburb as 111 on a list of fastest fasting appreciating suburbs in TAS

Lutana7009 is located in TAS which offers an average discount of -7.01% to property investors. Lutana itself is showing figures that indicate -5.37% is the average achievable by property buyers investing in the suburb.

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Investors looking for an affordable suburb that is likely to perform strongly would do well to consider Hobart suburb Lutana. With stunning views of the river and Mount Wellington, many will be shocked to discover that its median house price is under $300,000. Full summary

Investors looking for an affordable suburb that is likely to perform strongly would do well to consider Hobart suburb Lutana. With stunning views of the river and Mount Wellington, many will be shocked to discover that its median house price is under $300,000. 

Lutana is just 5km north of the CBD. Part of the reason for the suburb’s affordability is its proximity to the Zinifex zinc works: in fact, the suburb was originally built by the Electrolytic Zinc company as homes for its employees at the nearby zinc smelter. 

There have been issues with soil contamination due to past activities at the Zincworks – albeit with no danger to residents’ health – and current owner Zinifex has been spending significant amounts of time and money cleaning up the Zincworks since it acquired it 20 years ago. As a result, Lutana has been overlooked for several years. Meanwhile, many locals describe it as one of Hobart’s ‘best-kept secrets’. 

The suburb is largely residential, with a few local stores on Brooker Avenue, but neighbouring Moonah has a significant retail amenity presence, with a sizeable shopping centre. Moonah also provides local schools. 

It’s a small suburb, principally made up of detached houses. While there’s a sizeable retiree community, it is becoming more popular with younger families and there may be scope to add value to shabby properties through renovation – especially those built by the original Zincworks operator. 

Rental yields are among the strongest in northern Hobart at over. The suburb also has a tight rental market, with a vacancy rate that's barely risen above 2% over the past five years, according to SQM Research figures.

Properties on the eastern side of the suburb may suffer from the aforementioned soil contamination issues, so buyers may wish to stick to the west of the suburb and would be well advised to carry out ground surveys prior to purchase.

Close
HOUSE UNIT
$292,500 N/A
-0.85% N/A
2.63% N/A
3.69% N/A
$330 N/A
41 N/A
5.87% N/A
67.29 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Above average (U)
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Demographics
Total population 2384
Median household income ($/weekly) 894
Median age of persons 37
Median housing loan repayment ($/monthly) 1083
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 287 12.0
    25-34 years 324 13.6
    35-44 years 353 14.8
    45-54 years 313 13.1
    55-64 years 284 11.9
    Others 822 34.5
    Age Group
    Census Count Percent(%)
    Not Married 948 52.7
    Registered Married 588 32.7
    Defacto Relationship 262 14.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 1984 88.7
    Japan 11 0.5
    Papua New Guinea 12 0.5
    United Kingdom 66 2.9
    Other 90 4.0
    Others 75 3.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 13 0.6
    Christianity 1348 63.5
    Hinduism 25 1.2
    Islam 29 1.4
    No Religion 695 32.7
    Others 14 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 96 10.4
    $400-$599 146 15.8
    $600-$799 123 13.3
    $1,000-$1,249 120 13.0
    $1,500-$1,999 99 10.7
    Others 340 36.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 709 38.2
    Employed, worked full-time 621 33.5
    Employed, worked part-time 377 20.3
    Employed, away from work 75 4.0
    Unemployed, looking for work 74 4.0
    Person Characteristics
  • Census Count Percent(%)
    Professionals 173 16.1
    Technicians & trades workers 157 14.6
    Community & personal service workers 135 12.5
    Clerical & administrative workers 197 18.3
    Labourers 125 11.6
    Others 289 26.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 181 36.6
    Secondary 123 24.8
    Technical or Further Educational Institution 69 13.9
    University or other Tertiary Institutions 80 16.2
    Other type of educational institution 25 5.1
    Others 17 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2106 93.1
    Semi-detached, row or terrace house, townhouse 49 2.2
    Flat, unit or apartment 92 4.1
    Caravan, cabin, houseboat 3 0.1
    House or flat attached to a shop, office 8 0.4
    Others 3 0.1
    Dwelling Structure
    Census Count Percent(%)
    Rented 339 33.9
    Being purchased 332 33.2
    Fully owned 329 32.9
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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Recent sales & rentals