Hobart has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 7.90% to date .
Comparing Hobart,7000 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The TAS suburb of Hobart, 7000 is in the Hobart (C) local government area.
Information supplied by:
You can’t get closer to the centre of Hobart than this suburb. One of Tasmania’s most desirable locations, postcode 7000 offers unparalleled employment opportunities and amenities. Admittedly, properties aren’t cheap compared to the rest of the Apple Isle.
“Battery Point and Hobart CBD both offer investment opportunities,” says Andrew Peck, director of Herron Todd White Tasmania. “These are the premium suburbs and will be in the future. The return on initial investment may not be fantastic; however there are strong capital growth prospects.”
He adds that the inner city residential area of Hobart itself has seen some of the best returns over the past 10 years.
“In 1998 the median price was a mere $125,000. 2008 saw the median price increase to $480,000,” adds Peck. “That represents a 284% increase in the 10-year period. The convenience of surrounding amenities is a huge drawcard to the area, plus the bonus of CBD locale. Surely Hobart’s CBD must be seen as one on the best places for long term investment.”
My Property Hunter principal Rob Zubin suggests the area around Collins Street, Argyle Street and Campbell Street as featuring some unit and townhouse developments that are often in demand due to their proximity to the Royal Hobart Hospital.