At number 1228th in the list of Australian suburbs ordered by increase in median house value over the last year, West Hobart, 7000 is in the top 40% with a property value increase of 2.92% recorded in median house prices.
West Hobart,7000 has offered an average of 2.92% return per annum in house price rises to property investors over the last three years.
The most recent median price for West Hobart is $706000, with sellers offering an average of -5.49% off the asking price.
At number 12 in a list of fastest selling suburbs, West Hobart is in the TOP 10% of suburbs in Australia with an average of days on market 24.7667 for properties listed there.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 5.91%, investors should hope to achieve an overall return of 4.05%
If you compare the increase in value of investment property in West Hobart, 7000 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 4.29%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Hobart has increased when compared to the 5 year average annual rate.
Situated 1.46km from the CBD, West Hobart is one of Hobart (C) localities in the postcode 7000.
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.