Over the last year, property investments in Battery Point, 7004 have given investors a capital gain of 12.00%. This compares favourably with the 5.97% for TAS as a whole.
If we look at median property appreciation over just the last three months, Battery Point has given property investors a paper return of 0.00%. This puts Suburb as 104 on a list of fastest fasting appreciating suburbs in TAS
Advertised rents are around the $650 mark per week – giving a return of 2.41% based on the median price in Suburb
Battery Point has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -26.10% to date .
Battery Point,7004 was ranked 148 in Australia by increase in median property value over the quarter.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.26% offered to property buyers. Sellers in Battery Point itself are offering an average vendor discount of -5.83% to real estate investors.
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Hobart suburb with high prices
Median unit price: $520,000
Three-year growth: -9.4%
Rental yield: 5.0%
The suburb of Battery Point sits on the edge of Hobart’s city centre, and is the oldest suburb in the metro. It is known as the birthplace of Errol Flynn.
Battery Point’s colonial history is highlighted through its streets in the local cottages and cafes. Now one of the prime suburbs in Hobart, Battery Point was once were many guns were kept to protect the capital. The Battery Point Sculpture Trail tells the suburb’s story in rich visual detail through the nine sculptures scattered throughout. Some of the finest cafes in Hobart can be found along Hampden Street. And of course, one can’t miss Salamanca Place, which highlights the best of local art and culture.
While Hobart is generally known for its affordability, demand in Battery Point over recent years caused unit prices in this suburb to hit a median of over $500,000.