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.
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
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Apartment market reflect growth
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.