Suburb Profile Report for Warrane TAS (7018)

Warrane House: Median price $245,500, Annual capital growth 3.33%, Number of sales 30, Weekly median advertised rent $300

Warrane Unit: Median price $267,500, Annual capital growth -0.93%, Number of sales 12, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Warrane has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.11%

Taking the average capital gain, or increase in median house value, Warrane,7018 has racked up an average of 9.11% over the period. This ranks it number 1765th in the whole country for real estate investors looking at median house price increases.

Vendor discounting in Warrane is giving property investors an average Vendor Discount of around -6.40%. This puts suburb at number 96th in TAS when ranking the most discounted suburbs.

Residents and property investors in Warrane have been waiting around 17.78 days to sell a property.

Renters in Suburb are facing rents around $3600 per annum or $300 every week.

Property value increases in Warrane have tracked close to the TAS average of 1.72% over the last 12 months.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.62% offered to property buyers. Sellers in Warrane itself are offering an average vendor discount of -4.23% to real estate investors.

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Warrane is just 5km east of the Hobart CBD, across the Derwent River. It’s a former Housing Commission suburb which has had something of a rocky reputation in the past: however, it’s becoming increasingly popular for younger buyers looking for affordable housing and property investors. Full summary

Warrane is just 5km east of the Hobart CBD, across the Derwent River. It’s a former Housing Commission suburb which has had something of a rocky reputation in the past: however, it’s becoming increasingly popular for younger buyers looking for affordable housing and property investors. 

Matthew Carn, director of Raine & Horne Eastern Shore, reckons the suburb attracts three types of investor: small-scale developers, renovators and those looking for an affordable investment. 

“One of the strengths of the suburb is the size of the blocks its houses are built upon: these are typically around 800 square metres in size,” says Carn. “What many investors are doing is buying a property, chopping the block in two and building a unit on the back of the block.” 

The predominance of older-style weatherboard houses also means much of the area is ripe for renovation, he adds. 

While the area is largely residential, neighbouring Rosny Park has “all the services you could need”, according to Carn: it’s also well-located on the Tasman Highway, with commutes to the CBD taking less than 10 minutes. As the suburb is quite long and narrow, it’s difficult to stray too far from the highway, adds Carn. Instead, he recommends seeking out properties that are as close to the amenities and employment opportunities of Rosny Park as possible.

Close
HOUSE UNIT
$245,500 $267,500
4.03% N/A
9.11% -0.93%
3.33% -0.93%
$300 $290
30 12
6.35% 5.64%
17.78 98.72

Source: CoreLogic

DSR Score for property investment : Above average (U), Excellent (H)
Find a mortgage broker in Warrane TAS
Demographics
Total population 2410
Median household income ($/weekly) 736
Median age of persons 37
Median housing loan repayment ($/monthly) 1272
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 330 13.7
    25-34 years 313 13.0
    35-44 years 307 12.7
    45-54 years 310 12.9
    55-64 years 266 11.0
    Others 883 36.7
    Age Group
    Census Count Percent(%)
    Not Married 947 57.9
    Registered Married 502 30.7
    Defacto Relationship 187 11.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2007 89.8
    Croatia 11 0.5
    Papua New Guinea 11 0.5
    United Kingdom 61 2.7
    Other 101 4.5
    Others 44 2.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 14 0.7
    Christianity 1472 68.9
    Hinduism 23 1.1
    Islam 19 0.9
    No Religion 594 27.8
    Others 14 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 120 13.9
    $400-$599 143 16.6
    $600-$799 125 14.5
    $800-$999 104 12.1
    $1,000-$1,249 99 11.5
    Others 270 31.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 905 51.0
    Employed, worked full-time 451 25.4
    Employed, worked part-time 284 16.0
    Unemployed, looking for work 87 4.9
    Employed, away from work 48 2.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 98 12.5
    Technicians & trades workers 110 14.1
    Community & personal service workers 108 13.8
    Clerical & administrative workers 122 15.6
    Labourers 144 18.4
    Others 200 25.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 184 36.9
    Secondary 134 26.9
    Technical or Further Educational Institution 101 20.2
    University or other Tertiary Institutions 45 9.0
    Other type of educational institution 19 3.8
    Others 16 3.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1915 88.1
    Semi-detached, row or terrace house, townhouse 143 6.6
    Flat, unit or apartment 115 5.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 443 48.4
    Being purchased 261 28.5
    Fully owned 206 22.5
    Other tenure type 6 0.7
    Tenure Type
Census 2011, ABS
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