Suburb Profile Report for Sandy Bay TAS (7005)

Sandy Bay House: Median price $941,000, Annual capital growth 3.75%, Number of sales 127, Weekly median advertised rent $600

Sandy Bay Unit: Median price $570,000, Annual capital growth 4.47%, Number of sales 69, Weekly median advertised rent $450

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Feb 2021 as supplied by CoreLogic. Data is reported to the period ending Nov 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

With a capital gain of 2.95% for the last 12 months, Sandy Bay, 7005 has performed for property investments than its average annual 3.75% property growth over the last 5 years.

Across a shorter period, Sandy Bay, 7005 has seen a median price increase of -0.95% over the last quarter.

Property investors looking for a bargain in Sandy Bay should be aiming for at least -5.34% off the asking price, which is the average vendor discount being achieved 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 55.619 days.

If you compare the increase in value of investment property in Sandy Bay, 7005 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this TAS suburb was -3.39%.

Taking the average capital gain, or increase in median house value, Sandy Bay,7005 has racked up an average of -3.39% over the period. This ranks it number 450th 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 -5.70% below the asking price at the moment.

At number 76 in a list of fastest selling suburbs, Sandy Bay is in the TOP 10% of suburbs in Australia with an average of days on market 38.0638 for properties listed there.

Using the current median advertised rental of $450 and the average annual increase in value of a median property of 4.47%, investors should hope to achieve an overall return of 4.11%

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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.”

Metrics i HOUSE UNIT
$941,000 $570,000
-0.95% -5.00%
2.95% -3.39%
3.75% 4.47%
$600 $450
127 69
3.32% 4.11%
55.6190476190476 38.063829787234

Source: Monthly data update for Feb 2021 as supplied by CoreLogic. Data is reported to the period ending Nov 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 11156
Median household income ($/weekly) 1279
Median age of persons 40
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 1533 13.7
    25-34 years 1462 13.1
    35-44 years 1049 9.4
    45-54 years 1364 12.2
    55-64 years 1511 13.5
    Others 4237 38.0
    Age Group
    Census Count Percent(%)
    Not Married 3969 46.2
    Registered Married 3859 44.9
    Defacto Relationship 766 8.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 7322 68.9
    Croatia 601 5.7
    Malta 255 2.4
    United Kingdom 653 6.1
    Other 479 4.5
    Others 1317 12.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 286 2.8
    Christianity 5683 55.7
    Hinduism 130 1.3
    Islam 350 3.4
    No Religion 3668 35.9
    Others 94 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 366 9.3
    $800-$999 353 9.0
    $1,000-$1,249 319 8.1
    $1,500-$1,999 396 10.1
    $2,500-$2,999 378 9.6
    Others 2127 54.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3754 40.7
    Employed, worked full-time 2771 30.0
    Employed, worked part-time 2068 22.4
    Unemployed, looking for work 342 3.7
    Employed, away from work 298 3.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 758 14.8
    Professionals 1946 37.9
    Community & personal service workers 498 9.7
    Clerical & administrative workers 664 12.9
    Sales 469 9.1
    Others 799 15.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 627 18.5
    Secondary 635 18.8
    Technical or Further Educational Institution 179 5.3
    University or other Tertiary Institutions 1781 52.7
    Other type of educational institution 88 2.6
    Others 71 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7476 73.8
    Flat, unit or apartment 1896 18.7
    Semi-detached, row or terrace house, townhouse 744 7.3
    House or flat attached to a shop, office 13 0.1
    Caravan, cabin, houseboat 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1795 41.6
    Rented 1451 33.6
    Being purchased 994 23.0
    Other tenure type 79 1.8
    Tenure Type
Census 2011, ABS
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