Property investors who have had real estate in West Hobart, 7000 should be ok with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.42%
A 51.00% growth in median value for property investors in West Hobart,7000 puts this suburb at number 111th in terms of best performing suburbs in TAS
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.45% offered to property buyers. Sellers in West Hobart itself are offering an average vendor discount of -4.74% to real estate investors.
Using the current median advertised rental of $560 and the average annual increase in value of a median property of 5.50%, investors should hope to achieve an overall return of 4.07%
TAS has seen average median house prices change by 5.99% which means that West Hobart, 7000 has done well for property investors by showing a capital gain of 14.26% over the last year
West Hobart,7000 was ranked 1089 in Australia by increase in median property value over the quarter.
A $435 per week rent on the median house gives suburb investors a gross yield of circa 3.84%, without taking into account capital value appreciation, which has been averaging out at 5.81%.
Information supplied by:
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.