At number 1203th in the list of Australian suburbs ordered by increase in median house value over the last year, West Hobart, 7000 is in the top 30% with a property value increase of 8.54% recorded in median house prices.
Taking the average capital gain, or increase in median house value, West Hobart,7000 has racked up an average of 8.54% over the period. This ranks it number 433th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.50% offered to property buyers. Sellers in West Hobart itself are offering an average vendor discount of -4.25% to real estate investors.
At number 412 in a list of fastest selling suburbs, West Hobart is in the TOP 20% of suburbs in Australia with an average of days on market 43.07 for properties listed there.
West Hobart, 7000’s gross rental yield is 4.21%
Over the last year, property investments in West Hobart, 7000 have given investors a capital gain of -4.71%. This compares very badly with the 11.63% for TAS as a whole.
Over the longer term, West Hobart has seen property prices show investors a 29.17% return over the last 3 years. This is worse than over the last 12 months
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 -2.23% is being offered, which puts this TAS suburb at 1375th 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 31 days.
West Hobart is 43th on a list of best yielding suburbs for rents in TAS with a 4.53% return
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.