Property value increases in Sandy Bay have tracked higher than the TAS average of 18.88% over the last 12 months.
If we look at median property appreciation over just the last three months, Sandy Bay has given property investors a paper return of 13.07%. This puts Suburb as 23 on a list of fastest fasting appreciating suburbs in TAS
At number 12th of TAS’s most discounted properties, Sandy Bay is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $600 weekly from the median priced house in this suburb.
TAS has seen average median house prices change by 8.44% which means that Sandy Bay, 7005 has done well for property investors by showing a capital gain of -1.23% over the last year
Over the longer term, Sandy Bay has seen property prices show investors a 14.76% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -5.66% to buyers in Sandy Bay at the moment, which is less than average for the rest of TAS.
Often selling an investment property can take time, and in Sandy Bay the average time real estate has been on the market is 33.8571 days.
Renters in Suburb are facing rents around $22360 per annum or $430 every week.
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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.”