At number 1164th in the list of Australian suburbs ordered by increase in median house value over the last year, Sandy Bay, 7005 is in the top 30% with a property value increase of 7.50% recorded in median house prices.
Sandy Bay,7005 has offered an average of 7.50% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Sandy Bay is offering property investors an average of -6.12. This rate of discount on properties puts Suburb at number 55th in terms of most discounted suburbs in TAS
Often selling an investment property can take time, and in Sandy Bay the average time real estate has been on the market is 42.35 days.
Sandy Bay, 7005’s gross rental yield is 3.67%
If you compare the increase in value of investment property in Sandy Bay, 7005 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 8.75%.
When looking at the potential capital gains offered to property investors over the last 3 years, Sandy Bay comes in at number 3rd in TAS.
At number 48th of TAS’s most discounted properties, Sandy Bay is in the TOP 30% of the state/territory when listing in order of most discounted to least.
With the median price for a house in Sandy Bay being $550000 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 3.88%
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.”