Investment property in Sandy Bay has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.85%
Taking the average capital gain, or increase in median house value, Sandy Bay,7005 has racked up an average of -1.85% over the period. This ranks it number 1431th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Sandy Bay are currently offering property investors an average price cut of -6.80% below the asking price at the moment.
Often selling an investment property can take time, and in Sandy Bay the average time real estate has been on the market is 43.3012 days.
Sandy Bay is 129th on a list of best yielding suburbs for rents in TAS with a 3.74% return
Sandy Bay has had a pretty average year for property investment returns compared to the rest of TAS, giving investors a capital gain of 3.81% to date .
If we look at median property appreciation over just the last three months, Sandy Bay has given property investors a paper return of 0.44%. This puts Suburb as 37 on a list of fastest fasting appreciating suburbs in TAS
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 Sandy Bay, 7005. Typically our figures indicate that -5.83% is being offered, which puts this TAS suburb at 654th most discounted overall in Australia.
Advertised rents are around the $445 mark per week – giving a return of 4.04% based on the median price in Suburb
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Sandy Bay is a prestigious suburb located 3km south of the Hobart CBD and hosts the majority of the region’s million-dollar homes. It also boasts fantastic infrastructure, including a number of major supermarkets, excellent public and private schools for both boys and girls, great public transport access to Hobart and a vibrant restaurant and shopping strip. Australia’s first casino, Wrest Point, is located in Sandy Bay.
Recent buying activity in Sandy Bay has far outstripped that of its prime suburb peers. One selling point is the University of Tasmania, located on Churchill Avenue, which means there is no shortage of students and academics requiring housing. This adds a rental element to an area that would otherwise be suited more to capital growth investments.
Robbie Yeoland from Key Property Management believes the suburb is clearly divided into two sections: an older style area, which is on the water side and a modern area, situated above the university and Churchill Avenue.
“Sandy Bay Road and Churchill Avenue run parallel to each other,” Yeoland says. “While there is a separation in styles, nearly every property has a water view and all the major players in real estate are in Sandy Bay.”