Property value increases in South Hobart have tracked just higher than the TAS average of 10.86% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in South Hobart has increased when compared to the 5 year average annual rate.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in South Hobart, 7004. Typically our figures indicate that -7.93% is being offered, which puts this TAS suburb at 1339th most discounted overall in Australia.
Using the current median advertised rental of $487.5 and the average annual increase in value of a median property of 6.30%, investors should hope to achieve an overall return of 3.81%
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 29.12%
South Hobart,7004 was ranked 230 in Australia by increase in median property value over the quarter.
Advertised rents are around the $367.5 mark per week – giving a return of 3.82% based on the median price in Suburb
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