At number 2913th in the list of Australian suburbs ordered by increase in median house value over the last year, South Hobart, 7004 is in the BOTTOM 30% with a property value increase of -3.61% recorded in median house prices.
Taking the average capital gain, or increase in median house value, South Hobart,7004 has racked up an average of -3.61% over the period. This ranks it number 632th in the whole country for real estate investors looking at median house price increases.
On average over the past year, suburb has had 4.67 sales per month, which equates to 56 per year.
South Hobart is 98th on a list of best yielding suburbs for rents in TAS with a 4.46% return
South Hobart is in the bottom 20% in TAS when comparing median price capital growth over the last year. South Hobart gave property investors a dismal capital gain figure when compared to the rest of the state, with -6.18%.
Across a shorter period, South Hobart, 7004 has seen a median price increase of -5.75% over the last quarter.
Advertised rents are around the $449 mark per week – giving a return of 4.52% based on the median price in Suburb
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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.