Over the last year, property investments in Hobart, 7000 have given investors a capital gain of 5.15%. This compares averagely with the 7.30% for TAS as a whole.
A 64.37% growth in median value for property investors in Hobart,7000 puts this suburb at number 33th in terms of best performing suburbs in TAS
Using the current median advertised rental of $562.5 and the average annual increase in value of a median property of 8.31%, investors should hope to achieve an overall return of 4.09%
With a capital gain of 6.97% for the last 12 months, Hobart, 7000 has performed for property investments than its average annual 4.43% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Hobart comes in at number 8th in TAS.
Sellers are offering property buyers an average discount of -4.17% to buyers in Hobart at the moment, which is less than average for the rest of TAS.
The TAS suburb of Hobart, 7000 is in the Hobart (C) local government area.
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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.