Suburb Profile Report for Battery Point TAS (7004)

Battery Point House: Median price $1,300,000, Annual capital growth 6.18%, Number of sales 24, Weekly median advertised rent $650

Battery Point Unit: Median price $450,000, Annual capital growth 2.96%, Number of sales 47, Weekly median advertised rent $500

  • 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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Giving property investors a a solid capital gain of 7.66% for the last year, Battery Point, 7004 is the 650th highest performer in Australia in this respect.

Across a shorter period, Battery Point, 7004 has seen a median price increase of 2.77% over the last quarter.

Situated 0.93km from the CBD, Battery Point is one of Hobart (C) localities in the postcode 7004.

At number 1491th in the list of Australian suburbs ordered by increase in median house value over the last year, Battery Point, 7004 is in the BOTTOM 10% with a property value increase of -28.85% recorded in median house prices.

Comparing Battery Point,7004 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

The most recent median price for Battery Point is $450000, with sellers offering an average of -7.49% off the asking price.

At number 120 in a list of fastest selling suburbs, Battery Point is in the TOP 10% of suburbs in Australia with an average of days on market 53.2222 for properties listed there.

Using the current median advertised rental of $500 and the average annual increase in value of a median property of 2.96%, investors should hope to achieve an overall return of 5.78%

Information supplied by:


April 2019

M
O

W
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Hobart suburb with high prices

Postcode: 7004

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.

Metrics i HOUSE UNIT
$1,300,000 $450,000
2.77% 0.00%
7.66% -28.85%
6.18% 2.96%
$650 $500
24 47
2.60% 5.78%
34.3076923076923 53.2222222222222

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 : Above average (H), Good (U)
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Demographics
Total population 2096
Median household income ($/weekly) 1376
Median age of persons 41
Median housing loan repayment ($/monthly) 1400
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 284 13.5
    25-34 years 346 16.5
    45-54 years 229 10.9
    55-64 years 346 16.5
    65-74 years 235 11.2
    Others 656 31.3
    Age Group
    Census Count Percent(%)
    Not Married 784 48.4
    Registered Married 637 39.3
    Defacto Relationship 199 12.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 1508 77.2
    Indonesia 36 1.8
    Papua New Guinea 23 1.2
    United Kingdom 136 7.0
    Other 61 3.1
    Others 189 9.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 38 2.1
    Christianity 896 48.6
    Hinduism 28 1.5
    Islam 31 1.7
    No Religion 830 45.1
    Others 19 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 92 11.0
    $1,000-$1,249 74 8.9
    $1,250-$1,499 68 8.1
    $1,500-$1,999 109 13.1
    $2,500-$2,999 103 12.3
    Others 389 46.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 639 36.4
    Not in the labour force 580 33.1
    Employed, worked part-time 406 23.1
    Employed, away from work 71 4.0
    Unemployed, looking for work 58 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 156 13.9
    Professionals 472 42.1
    Community & personal service workers 133 11.9
    Clerical & administrative workers 156 13.9
    Sales 75 6.7
    Others 128 11.4
    Occupation
    Census Count Percent(%)
    Pre-school 16 3.5
    Infants/Primary 87 19.1
    Secondary 59 12.9
    Technical or Further Educational Institution 34 7.5
    University or other Tertiary Institutions 244 53.5
    Others 16 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 810 43.4
    Flat, unit or apartment 584 31.3
    Semi-detached, row or terrace house, townhouse 450 24.1
    House or flat attached to a shop, office 21 1.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 449 49.7
    Fully owned 293 32.4
    Being purchased 157 17.4
    Other tenure type 5 0.6
    Tenure Type
Census 2011, ABS
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