Property value increases in South Hobart have tracked close to the TAS average of 12.21% over the last 12 months.
The five-year average increase in median property values for South Hobart,7004 has given property investors a potential capital gain of 51.95% across each of those five years.
South Hobart, 7004 is offering TAS ‘s 118th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this TAS.
On average over the past year, suburb has had 4.92 sales per month, which equates to 59 per year.
Using the current median advertised rental of $497.5 and the average annual increase in value of a median property of 5.45%, investors should hope to achieve an overall return of 4.20%
Property investors who have had real estate in South Hobart, 7004 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 28.36%
Across a shorter period, South Hobart, 7004 has seen a median price increase of 7.10% over the last quarter.
South Hobart, 7004 is offering TAS ‘s 29th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this TAS.
Renters in Suburb are facing rents around $19760 per annum or $380 every week.
South Hobart is known for its beautifully designed properties Milton and Ashleigh. It is also the site of Australia’s oldest brewery, Cascade BreweryFull summary
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Houses are popular with tenants
Median house price: $580,000
Three-year growth: 36.8%
Rental yield: 4.1%
South Hobart is known for its beautifully designed properties Milton and Ashleigh. It is also the site of Australia’s oldest brewery, Cascade Brewery. This suburb gave Tasmania its “Apple Isle” moniker, as apple trucks often travelled along South Hobart’s Huon Road on their way to Europe in the 1950s.
South Hobart is among the top 10 highest-growing suburbs in Tasmania as of February 2018, with 24.5% growth over the past 12 months. It is also the fastest-selling suburb, with houses staying on sale for only 13 days. House prices hit $580,000, but even then, the average discount rate is just 2.8%.
With Hobart’s economic rise, South Hobart has enjoyed a very tight average vacancy rate of 0.8%, suggesting that this suburb is popular with tenants.Close