Suburb Profile Report for North Hobart TAS (7000)

North Hobart House: Median price $675,000, Annual capital growth 7.06%, Number of sales 33, Weekly median advertised rent $525

North Hobart Unit: Median price $552,850, Annual capital growth 4.69%, Number of sales 23, Weekly median advertised rent $423

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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TAS has seen average median house prices change by 7.30% which means that North Hobart, 7000 has done well for property investors by showing a capital gain of -2.17% over the last year

While North Hobart,7000 ranked number 140th in TAS for increase in median house value (annualised) increase, it is ranked 4th over the last 5 years.

Property buyers and investors in North Hobart 7000 should be seeing an average reduction in asking price of around -5.58% . This means that North Hobart is holding prices well when compared to other suburbs in TAS.

A $525 per week rent on the median house gives suburb investors a gross yield of circa 4.04%, without taking into account capital value appreciation, which has been averaging out at 7.06%.

Giving property investors a an unimpressive capital gain of -8.62% for the last year, North Hobart, 7000 is the 1143th highest performer in Australia in this respect.

If we look at median property appreciation over just the last three months, North Hobart has given property investors a paper return of -0.63%. This puts Suburb as 46 on a list of fastest fasting appreciating suburbs in TAS

Residents and property investors in North Hobart have been waiting around 52.3571 days to sell a property.

Situated 1.60km from the CBD, North Hobart is one of Hobart (C) localities in the postcode 7000.

YIP MAG Information supplied by:

YIP MAG
July 2016

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While it is on the pricier side of things in Tasmania, with a median house price of $482,500, North Hobart looks like it could be in for a period of growth.

Encouragingly, house prices in the suburb have risen 23% over the last three years, with the last 12 months seeing growth of 17%.

Buyers seem keen at the moment to get in before further price rises, with houses in North Hobart currently on the market for just 26 days.

The solid growth has hit rental returns in the area though, with yields in North Hobart sitting at only 4%, which is lower than in many other areas of Hobart.

However, landlords are unlikely to struggle to find a tenant, as the current vacancy rate is just 0.86%, having fallen from 1.72% over the past 12 months, according to Real Estate Investar.
Metrics i HOUSE UNIT
$675,000 $552,850
-0.74% -0.63%
-2.17% -8.62%
7.06% 4.69%
$525 $423
33 23
4.04% 3.97%
28.4583333333333 52.3571428571429

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 2653
Median household income ($/weekly) 1159
Median age of persons 33
Median housing loan repayment ($/monthly) 1700
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 379 14.3
    25-34 years 495 18.7
    35-44 years 384 14.5
    45-54 years 372 14.0
    55-64 years 297 11.2
    Others 726 27.4
    Age Group
    Census Count Percent(%)
    Not Married 1131 56.5
    Registered Married 564 28.2
    Defacto Relationship 306 15.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2022 80.7
    Croatia 28 1.1
    Japan 26 1.0
    United Kingdom 119 4.7
    Other 90 3.6
    Others 222 8.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 42 1.8
    Christianity 1106 46.7
    Hinduism 25 1.1
    Other Religious Groups 24 1.0
    No Religion 1142 48.2
    Others 29 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 97 9.2
    $800-$999 95 9.0
    $1,000-$1,249 102 9.7
    $1,250-$1,499 97 9.2
    $1,500-$1,999 127 12.1
    Others 533 50.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 882 40.4
    Not in the labour force 622 28.5
    Employed, worked part-time 518 23.7
    Unemployed, looking for work 81 3.7
    Employed, away from work 79 3.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 156 10.5
    Professionals 508 34.3
    Technicians & trades workers 143 9.6
    Community & personal service workers 202 13.6
    Clerical & administrative workers 208 14.0
    Others 266 17.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 136 20.3
    Secondary 148 22.1
    Technical or Further Educational Institution 85 12.7
    University or other Tertiary Institutions 267 39.9
    Other type of educational institution 19 2.8
    Others 15 2.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1325 56.1
    Semi-detached, row or terrace house, townhouse 569 24.1
    Flat, unit or apartment 445 18.9
    House or flat attached to a shop, office 21 0.9
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 601 53.3
    Being purchased 300 26.6
    Fully owned 222 19.7
    Other tenure type 5 0.4
    Tenure Type
Census 2011, ABS
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