Suburb Profile Report for Old Beach TAS (7017)

Old Beach House: Median price $475,000, Annual capital growth 3.30%, Number of sales 70, Weekly median advertised rent $450

Old Beach Unit: Median price $346,000, Annual capital growth 1.22%, Number of sales 21, Weekly median advertised rent $380

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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Property investors who have had real estate in Old Beach, 7017 should be relatively pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 4.97%

Taking the average capital gain, or increase in median house value, Old Beach,7017 has racked up an average of 4.97% over the period. This ranks it number 621th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Old Beach should be aiming for at least -5.20% off the asking price, which is the average vendor discount being achieved at the moment.

Property investors should expect to get $450 weekly from the median priced house in this suburb.

With a capital gain of 1.02% for the last 12 months, Old Beach, 7017 has performed for property investments than its average annual 1.22% property growth over the last 5 years.

When looking at the potential capital gains offered to property investors over the last 3 years, Old Beach comes in at number 42th in TAS.

On average over the past year, suburb has had 1.75 sales per month, which equates to 21 per year.

Information supplied by:


June 2018

M
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Housing stock plummets in Hobart suburb

Postcode: 7017

Median house price: $400,000

Stock on market: -59.6%

12-month growth: 3.9%

Housing supply in the suburb of Old Beach nosedives by nearly 50% in the 12 months leading up to March 2018.

The number of houses on the market went from 51 in March 2017 to just 18 one year later. As a suburb of Hobart, Old Beach seems to be following the city’s overall trend of tightening supply – a strategy that has been paying off given the consistent pattern of growth reported since 2013. Even then, houses remain affordable at a median price of $400,000.

Houses stay on the market for less than 60 days; although this doesn’t indicated an incredibly strong level of demand, it is relatively balanced. In addition, rental returns for investors are high at 5.1%.

Old Beach is situated next to the Derwent River. It is also just 7km from the Baskerville Raceway.

Metrics i HOUSE UNIT
$475,000 $346,000
3.26% -2.54%
4.97% 1.02%
3.30% 1.22%
$450 $380
70 21
4.93% 5.71%
33.7966101694915 30.3125

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 3169
Median household income ($/weekly) 1489
Median age of persons 39
Median housing loan repayment ($/monthly) 1517
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 454 14.3
    25-34 years 370 11.7
    35-44 years 506 16.0
    45-54 years 520 16.4
    55-64 years 395 12.5
    Others 923 29.1
    Age Group
    Census Count Percent(%)
    Registered Married 1302 57.6
    Not Married 630 27.9
    Defacto Relationship 328 14.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 2765 90.1
    Greece 16 0.5
    Papua New Guinea 39 1.3
    United Kingdom 128 4.2
    Other 27 0.9
    Others 95 3.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 21 0.7
    Christianity 2183 74.8
    Hinduism 3 0.1
    Islam 6 0.2
    No Religion 703 24.1
    Others 3 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 108 11.0
    $1,000-$1,249 88 9.0
    $1,250-$1,499 95 9.7
    $1,500-$1,999 180 18.3
    $2,000-$2,499 156 15.9
    Others 356 36.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1099 44.9
    Not in the labour force 687 28.1
    Employed, worked part-time 512 20.9
    Employed, away from work 98 4.0
    Unemployed, looking for work 53 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 206 12.0
    Professionals 213 12.4
    Technicians & trades workers 268 15.6
    Community & personal service workers 207 12.1
    Clerical & administrative workers 342 20.0
    Others 478 27.9
    Occupation
    Census Count Percent(%)
    Pre-school 27 3.6
    Infants/Primary 323 43.6
    Secondary 213 28.8
    Technical or Further Educational Institution 100 13.5
    University or other Tertiary Institutions 62 8.4
    Others 15 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2864 97.0
    Flat, unit or apartment 62 2.1
    Semi-detached, row or terrace house, townhouse 23 0.8
    Caravan, cabin, houseboat 4 0.1
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 632 58.8
    Fully owned 308 28.7
    Rented 131 12.2
    Other tenure type 3 0.3
    Tenure Type
Census 2011, ABS
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