Property value increases in Sandy Bay have tracked lower than the TAS average of 7.35% over the last 12 months.
A 37.69% growth in median value for property investors in Sandy Bay,7005 puts this suburb at number 153th in terms of best performing suburbs in TAS
At number 18th of TAS’s most discounted properties, Sandy Bay is in the bottom 20% of the state/territory when listing in order of most discounted to least.
If you compare the increase in value of investment property in Sandy Bay, 7005 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 9.20%.
Sandy Bay,7005 was ranked 256 in Australia by increase in median property value over the quarter.
Sandy Bay7005 is located in TAS which offers an average discount of -5.18% to property investors. Sandy Bay itself is showing figures that indicate -5.79% is the average achievable by property buyers investing in the suburb.
At number 43 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 38.0435 for properties listed there.
Sandy Bay, 7005’s gross rental yield is 4.00%
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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.”