Battery Point, 7004 ranked 6th in TAS when comparing growth in median property values or capital gain over the last 12 months. Battery Point is one of 606 in our list for TAS
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Battery Point has increased when compared to the 5 year average annual rate.
The TAS suburb of Battery Point, 7004 is in the Hobart (C) local government area.
While Battery Point,7004 ranked number 1st in TAS for increase in median house value (annualised) increase, it is ranked 6th over the last 5 years.
On average over the past year, suburb has had 3.17 sales per month, which equates to 38 per year.
A $497.5 per week rent on the median house gives suburb investors a gross yield of circa 3.09%, without taking into account capital value appreciation, which has been averaging out at 10.46%.
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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.