Giving property investors a an average capital gain of 5.80% for the last year, Sandy Bay, 7005 is the 2283th highest performer in Australia in this respect.
While Sandy Bay,7005 ranked number 158th in TAS for increase in median house value (annualised) increase, it is ranked 16th over the last 5 years.
Vendor discounting in Sandy Bay is giving property investors an average Vendor Discount of around -7.07%. This puts suburb at number 2nd in TAS when ranking the most discounted suburbs.
A $545 per week rent on the median house gives suburb investors a gross yield of circa 3.38%, without taking into account capital value appreciation, which has been averaging out at 4.59%.
Sandy Bay has had a A very good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 23.27% to date .
Across a shorter period, Sandy Bay, 7005 has seen a median price increase of -0.61% over the last quarter.
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 Wrest Point, Australia’s first casino.Full summary
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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.”