Over the last year, property investments in Sandy Bay, 7005 have given investors a capital gain of 5.41%. This compares badly with the 11.42% for TAS as a whole.
Taking the average capital gain, or increase in median house value, Sandy Bay,7005 has racked up an average of 5.41% over the period. This ranks it number 549th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.50% offered to property buyers. Sellers in Sandy Bay itself are offering an average vendor discount of -8.99% to real estate investors.
On average over the past year, suburb has had 11.83 sales per month, which equates to 142 per year.
Renters in Suburb are facing rents around $31200 per annum or $600 every week.
Sandy Bay has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -0.30% to date .
Sandy Bay,7005 has offered an average of -0.30% return per annum in house price rises to property investors over the last three years.
The most recent median price for Sandy Bay is $492513, with sellers offering an average of -4.84% off the asking price.
Sandy Bay, 7005’s gross rental yield is 4.22%
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.”