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%
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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.