South Hobart has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -1.38% to date .
Comparing South Hobart,7004 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in South Hobart is giving property investors an average Vendor Discount of around -7.06%. This puts suburb at number 16th in TAS when ranking the most discounted suburbs.
Situated 3.27km from the CBD, South Hobart is one of Hobart (C) localities in the postcode 7004.
Giving property investors a a stable capital gain of 2.19% for the last year, South Hobart, 7004 is the 471th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, South Hobart comes in at number 3rd in TAS.
Often selling an investment property can take time, and in South Hobart the average time real estate has been on the market is 54.9565 days.
Property investors should expect to get $385 weekly from the median priced house in this 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.