Suburb Profile Report for Lutana TAS (7009)

Lutana House: Median price $410,000, Annual capital growth 5.44%, Number of sales 48, Weekly median advertised rent $420

Lutana Unit: Median price $310,000, Annual capital growth 3.71%, Number of sales 15, Weekly median advertised rent $350

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

Investment property in Lutana has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 15.33%

When looking at the potential capital gains offered to property investors over the last 3 years, Lutana comes in at number 52th in TAS.

Lutana7009 is located in TAS which offers an average discount of -6.12% to property investors. Lutana itself is showing figures that indicate -2.28% is the average achievable by property buyers investing in the suburb.

In the last year 48 properties changed hands in Lutana, which puts it as the 65th most active market in TAS when comparing the number of sales per suburb.

Lutana has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 14.81% to date .

Comparing Lutana,7009 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

At number 42 in a list of fastest selling suburbs, Lutana is in the TOP 10% of suburbs in Australia with an average of days on market 15 for properties listed there.

Property investors should expect to get $350 weekly from the median priced house in this suburb.

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Investors looking for an affordable suburb that is likely to perform strongly would do well to consider Hobart suburb Lutana. With stunning views of the river and Mount Wellington, many will be shocked to discover that its median house price is under $300,000. Full summary

Investors looking for an affordable suburb that is likely to perform strongly would do well to consider Hobart suburb Lutana. With stunning views of the river and Mount Wellington, many will be shocked to discover that its median house price is under $300,000. 

Lutana is just 5km north of the CBD. Part of the reason for the suburb’s affordability is its proximity to the Zinifex zinc works: in fact, the suburb was originally built by the Electrolytic Zinc company as homes for its employees at the nearby zinc smelter. 

There have been issues with soil contamination due to past activities at the Zincworks – albeit with no danger to residents’ health – and current owner Zinifex has been spending significant amounts of time and money cleaning up the Zincworks since it acquired it 20 years ago. As a result, Lutana has been overlooked for several years. Meanwhile, many locals describe it as one of Hobart’s ‘best-kept secrets’. 

The suburb is largely residential, with a few local stores on Brooker Avenue, but neighbouring Moonah has a significant retail amenity presence, with a sizeable shopping centre. Moonah also provides local schools. 

It’s a small suburb, principally made up of detached houses. While there’s a sizeable retiree community, it is becoming more popular with younger families and there may be scope to add value to shabby properties through renovation – especially those built by the original Zincworks operator. 

Rental yields are among the strongest in northern Hobart at over. The suburb also has a tight rental market, with a vacancy rate that's barely risen above 2% over the past five years, according to SQM Research figures.

Properties on the eastern side of the suburb may suffer from the aforementioned soil contamination issues, so buyers may wish to stick to the west of the suburb and would be well advised to carry out ground surveys prior to purchase.

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Metrics i HOUSE UNIT
$410,000 $310,000
2.63% 6.90%
15.33% 14.81%
5.44% 3.71%
$420 $350
48 15
5.33% 5.87%
15.06 15

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 2384
Median household income ($/weekly) 894
Median age of persons 37
Median housing loan repayment ($/monthly) 1083
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 287 12.0
    25-34 years 324 13.6
    35-44 years 353 14.8
    45-54 years 313 13.1
    55-64 years 284 11.9
    Others 822 34.5
    Age Group
    Census Count Percent(%)
    Not Married 948 52.7
    Registered Married 588 32.7
    Defacto Relationship 262 14.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 1984 88.7
    Japan 11 0.5
    Papua New Guinea 12 0.5
    United Kingdom 66 2.9
    Other 90 4.0
    Others 75 3.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 13 0.6
    Christianity 1348 63.5
    Hinduism 25 1.2
    Islam 29 1.4
    No Religion 695 32.7
    Others 14 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 96 10.4
    $400-$599 146 15.8
    $600-$799 123 13.3
    $1,000-$1,249 120 13.0
    $1,500-$1,999 99 10.7
    Others 340 36.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 709 38.2
    Employed, worked full-time 621 33.5
    Employed, worked part-time 377 20.3
    Employed, away from work 75 4.0
    Unemployed, looking for work 74 4.0
    Person Characteristics
  • Census Count Percent(%)
    Professionals 173 16.1
    Technicians & trades workers 157 14.6
    Community & personal service workers 135 12.5
    Clerical & administrative workers 197 18.3
    Labourers 125 11.6
    Others 289 26.9
    Occupation
    Census Count Percent(%)
    Infants/Primary 181 36.6
    Secondary 123 24.8
    Technical or Further Educational Institution 69 13.9
    University or other Tertiary Institutions 80 16.2
    Other type of educational institution 25 5.1
    Others 17 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2106 93.1
    Semi-detached, row or terrace house, townhouse 49 2.2
    Flat, unit or apartment 92 4.1
    Caravan, cabin, houseboat 3 0.1
    House or flat attached to a shop, office 8 0.4
    Others 3 0.1
    Dwelling Structure
    Census Count Percent(%)
    Rented 339 33.9
    Being purchased 332 33.2
    Fully owned 329 32.9
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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