Suburb Profile Report for Lenah Valley TAS (7008)

Lenah Valley House: Median price $699,790, Annual capital growth 6.08%, Number of sales 74, Weekly median advertised rent $530

Lenah Valley Unit: Median price $443,750, Annual capital growth 5.02%, Number of sales 22, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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Investment property in Lenah Valley has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.97%

Comparing Lenah Valley,7008 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

In the last year 74 properties changed hands in Lenah Valley, which puts it as the 32th most active market in TAS when comparing the number of sales per suburb.

A $530 per week rent on the median house gives suburb investors a gross yield of circa 3.94%, without taking into account capital value appreciation, which has been averaging out at 6.08%.

With a capital gain of 9.23% for the last 12 months, Lenah Valley, 7008 has performed for property investments than its average annual 5.02% property growth over the last 5 years.

While Lenah Valley,7008 ranked number 43th in TAS for increase in median house value (annualised) increase, it is ranked 10th over the last 5 years.

The TAS suburb of Lenah Valley, 7008 is in the Hobart (C) local government area.

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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.

There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.

It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.

 

Metrics i HOUSE UNIT
$699,790 $443,750
3.29% 0.57%
11.97% 9.23%
6.08% 5.02%
$530 $400
74 22
3.94% 4.69%
29.3965517241379 22

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (U), Excellent (H)
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Demographics
Total population 5852
Median household income ($/weekly) 1265
Median age of persons 39
Median housing loan repayment ($/monthly) 1620
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 676 11.5
    25-34 years 729 12.5
    35-44 years 921 15.7
    45-54 years 887 15.2
    55-64 years 724 12.4
    Others 1916 32.7
    Age Group
    Census Count Percent(%)
    Registered Married 2093 46.7
    Not Married 1906 42.5
    Defacto Relationship 487 10.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 4867 85.7
    Japan 47 0.8
    Papua New Guinea 51 0.9
    United Kingdom 223 3.9
    Other 175 3.1
    Others 316 5.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 52 0.9
    Christianity 3476 63.3
    Islam 58 1.1
    Other Religious Groups 47 0.9
    No Religion 1816 33.1
    Others 38 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 225 10.3
    $600-$799 222 10.1
    $1,000-$1,249 218 9.9
    $1,500-$1,999 323 14.7
    $2,000-$2,499 210 9.6
    Others 993 45.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1865 39.9
    Not in the labour force 1407 30.1
    Employed, worked part-time 1104 23.6
    Employed, away from work 170 3.6
    Unemployed, looking for work 127 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 332 10.6
    Professionals 942 30.0
    Technicians & trades workers 389 12.4
    Community & personal service workers 334 10.6
    Clerical & administrative workers 552 17.6
    Others 590 18.8
    Occupation
    Census Count Percent(%)
    Pre-school 37 2.6
    Infants/Primary 471 33.3
    Secondary 409 28.9
    Technical or Further Educational Institution 147 10.4
    University or other Tertiary Institutions 313 22.1
    Others 37 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5020 89.6
    Flat, unit or apartment 332 5.9
    Semi-detached, row or terrace house, townhouse 235 4.2
    House or flat attached to a shop, office 14 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 924 39.3
    Fully owned 875 37.2
    Rented 539 22.9
    Other tenure type 16 0.7
    Tenure Type
Census 2011, ABS
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