Suburb Profile Report for West Hobart TAS (7000)

West Hobart House: Median price $720,000, Annual capital growth 5.55%, Number of sales 86, Weekly median advertised rent $550

West Hobart Unit: Median price $464,000, Annual capital growth 7.37%, Number of sales 30, Weekly median advertised rent $395

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

Giving property investors a a solid capital gain of 14.20% for the last year, West Hobart, 7000 is the 627th highest performer in Australia in this respect.

Comparing West Hobart,7000 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

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 West Hobart, 7000. Typically our figures indicate that -6.02% is being offered, which puts this TAS suburb at 2313th most discounted overall in Australia.

Often selling an investment property can take time, and in West Hobart the average time real estate has been on the market is 22.74 days.

A $550 per week rent on the median house gives suburb investors a gross yield of circa 3.97%, without taking into account capital value appreciation, which has been averaging out at 5.55%.

Property investors who have had real estate in West Hobart, 7000 should be unhappy with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.39%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Hobart has increased when compared to the 5 year average annual rate.

Property buyers and investors in West Hobart 7000 should be seeing an average reduction in asking price of around -0.92% . This means that West Hobart is holding prices well when compared to other suburbs in TAS.

Residents and property investors in West Hobart have been waiting around 14.5 days to sell a property.

Information supplied by:


November 2017

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Just minutes from the Hobart CBD, this eccentric, bohemian suburb was once considered a working-class area but is now prized by commuters for its beautiful Federation-era homes and spectacular river viewsFull summary

Apartment market reflect growth

Postcode: 7000

Median unit price: $451,125

Three-year growth: 29.8%

Rental yield: 4.4%

Just minutes from the Hobart CBD, this eccentric, bohemian suburb was once considered a working-class area but is now prized by commuters for its beautiful Federation-era homes and spectacular river views.

West Hobart’s median unit price in May 2017 has grown almost 30% in the last 12 months to reach $426,250, reflecting Hobart’s recent strong growth run. The area is also popular with families, with several excellent primary schools close by and a Catholic college catering to Year 11 and 12 students. Nearby North Hobart has an array of restaurants along its main strip. City workers favour the area due to the easy commute, while for students it is just a short bus trip to the University of Tasmania Sandy Bay campus.

 

Close
Metrics i HOUSE UNIT
$720,000 $464,000
4.96% -9.55%
14.20% -7.39%
5.55% 7.37%
$550 $395
86 30
3.97% 4.43%
22.74 14.5

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
Find a mortgage broker in West Hobart TAS
Demographics
Total population 5800
Median household income ($/weekly) 1345
Median age of persons 37
Median housing loan repayment ($/monthly) 1625
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 664 11.4
    25-34 years 842 14.5
    35-44 years 920 15.9
    45-54 years 897 15.5
    55-64 years 705 12.2
    Others 1772 30.6
    Age Group
    Census Count Percent(%)
    Not Married 2087 47.9
    Registered Married 1690 38.8
    Defacto Relationship 579 13.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4544 82.6
    Croatia 39 0.7
    Papua New Guinea 78 1.4
    United Kingdom 322 5.9
    Other 141 2.6
    Others 380 6.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 83 1.6
    Christianity 2349 45.1
    Islam 31 0.6
    Other Religious Groups 47 0.9
    No Religion 2681 51.5
    Others 19 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 210 9.7
    $1,000-$1,249 190 8.8
    $1,500-$1,999 288 13.3
    $2,000-$2,499 212 9.8
    $2,500-$2,999 195 9.0
    Others 1070 49.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1849 40.4
    Not in the labour force 1259 27.5
    Employed, worked part-time 1135 24.8
    Employed, away from work 170 3.7
    Unemployed, looking for work 164 3.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 428 13.6
    Professionals 1266 40.2
    Technicians & trades workers 289 9.2
    Community & personal service workers 316 10.0
    Clerical & administrative workers 406 12.9
    Others 443 14.1
    Occupation
    Census Count Percent(%)
    Pre-school 45 3.0
    Infants/Primary 475 31.5
    Secondary 324 21.5
    Technical or Further Educational Institution 137 9.1
    University or other Tertiary Institutions 497 32.9
    Others 32 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4394 80.9
    Flat, unit or apartment 541 10.0
    Semi-detached, row or terrace house, townhouse 474 8.7
    House or flat attached to a shop, office 20 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 868 36.7
    Fully owned 746 31.5
    Being purchased 738 31.2
    Other tenure type 13 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals