Suburb Profile Report for West Hobart TAS (7000)

West Hobart House: Median price $680,000, Annual capital growth 5.37%, Number of sales 80, Weekly median advertised rent $550

West Hobart Unit: Median price $465,000, Annual capital growth 7.41%, Number of sales 20, Weekly median advertised rent $405

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

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

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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.

 

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Metrics i HOUSE UNIT
$680,000 $465,000
-0.07% -6.25%
8.54% -4.71%
5.37% 7.41%
$550 $405
80 20
4.21% 4.53%
43.07 31

Source: CoreLogic

DSR Score for property investment : Very 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
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Recent sales & rentals